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The Optimum Management of Social Overhead Capital

  • H. Uzawa
Part of the International Economic Association Series book series (IEA)

Abstract

The purposes of this paper are twofold. Firstly, an attempt is made to formulate a theoretical model in which social overhead capital plays a significant role in the processes of resource allocation and in which the distribution of real income is affected by the manner in which the use of such social overhead capital is regulated. Secondly, the pattern of investment in social overhead capital which results in an optimum path of economic growth is examined within the framework of the Ramsey [1] theory of optimum growth.

Keywords

Social Capital Scarce Resource Optimum Path Capital Accumulation Optimum Allocation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Reference

  1. [1]
    Ramsey, F. P., ‘A Mathematical Theory of Saving’, Econ. J., vol. 38 (1928) pp. 543–59.CrossRefGoogle Scholar
  2. [2]
    Kneese, A. V., Water Pollution: Economic Aspects and Research Models (Resources for the Future, Inc., Washington, D.C., 1970).Google Scholar
  3. [3]
    Uzawa, H., ‘On the Economics of Social Overhead Capital’ (unpublished, 1970).Google Scholar
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    Samuelson, P. A., ‘The Pure Theory of Public Expenditures’, Rev. Econ. & Stats., vol. 36 (1954) pp. 387–9.CrossRefGoogle Scholar
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    Rothenberg, J., ‘The Economics of Congestion and Pollution: An Integrated View’, Amer. Econ. Rev., vol. 60 (1970) pp. 114–21.Google Scholar
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    Uzawa, H., ‘Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth’, J. Polit. Econ., vol. 77 (1970) pp. 628–52.CrossRefGoogle Scholar

Reference

  1. [1]
    Barnett, H. J., and Morse, C., Scarcity and Growth: The Economics of Natural Resource Availability (Johns Hopkins Press, Baltimore, 1963, 1968).Google Scholar
  2. [2]
    Ramsey, F. R., ‘A Mathematical Theory of Saving’, Econ. J. (1928); reprinted in Arrow, K., and Scitovsky, T. (eds.), Readings in Welfare Economics (Richard Irwin, Homewood, Ill., 1969).Google Scholar

Copyright information

© International Economic Association 1974

Authors and Affiliations

  • H. Uzawa

There are no affiliations available

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