Joan Robinson: The Rate of Profit, Distribution and Accumulation
As one of the Cambridge economists working closely with Keynes during the development of the General Theory, it is not surprising to find Joan Robinson among the main contributors to the extension of the Keynesian framework into the long period. In fact, Professor Robinson had developed, as early as 1936, an extension of the theory of employment to long-run considerations.1 It was not, however, until Harrod’s later work that Mrs Robinson concerned herself primarily with long-period growth, and even then she chose not only to look to an extension of the Harrod model in the context of Keynes and Kalecki, but also to delve into existing classical and neoclassical theory in search of a generalised theory of growth.2 Her cognisance of the propositions and deficiencies of both previous approaches has led her to a thorough and broad-based analysis of the problem.
KeywordsLabour Force Real Wage Marginal Product Technical Progress Capital Good
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