Abstract
In a paper delivered at an IEA conference at S’Agaro in April 1975, Professor Koopmans presented a growth model with an invariant capital stock, that is to say, an economy where the initial capital stock is optimal and remains so through time [7]. In his analysis the growth rate itself can be expressed by an input intensity vector. An increase in the latter would “swell up” all quantities in the required proportion.
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© 2016 Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile
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Halevi, J. (2016). Some Notes on Classical Political Economy and the Rise to Dominance of Supply and Demand Theories. In: Post-Keynesian Essays from Down Under Volume IV: Essays on Theory. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-47529-9_10
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DOI: https://doi.org/10.1057/978-1-137-47529-9_10
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