The Distribution of Gains Revisited
The contents of the preceding chapter were delivered to the American Economic Association late in 1949, some twenty-five years ago. Twenty-five years is a long time for reflection; and, although in the interval I had repeated chances in conference papers, articles and other publications to develop and revise my ideas, perhaps it will not be out of place to set down here some reflections on where and why Singer II (1974) would differ from Singer I (1949). I hope this will not be taken as an unduly schizophrenic exercise.
KeywordsIncome Metaphor Mist Monopoly
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- 3.There is an analogy here to the Todaro model (M. P. Todaro, ‘A Model of Labor Migration and Urban Unemployment in Less Developed Countries’, American Economic Review, Mar 1969) In the Todaro model unemployment brings into equilibrium the urban wage rate and the rural living standards. In my suggested model, unemployment brings into equilibrium the available technology and the factor endowment of developing countries.Google Scholar
- 4.See C. P. Kindleberger, ‘Europe’s Terms of Trade’. This issue was also discussed at a conference in 1957 (see Review of Economics and Statistics, Feb 1958 ).Google Scholar