Abstract
In classical economics, growth originated from the dynamic interaction between land, labor, and capital — but mostly with land (natural resources) supposed to be available in a fixed nonaugmentable amount. A complete macro-dynamic model for the evolution of the labor force, L(t), and the capital stock, K(t), must now be constructed.
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© 1994 Springer Science+Business Media Dordrecht
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Jensen, B.S. (1994). Classical growth models and homogeneity. In: The Dynamic Systems of Basic Economic Growth Models. Mathematics and Its Applications, vol 302. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-1036-5_3
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DOI: https://doi.org/10.1007/978-94-011-1036-5_3
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-4451-6
Online ISBN: 978-94-011-1036-5
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