This book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system Num Pages: 300 pages, 1d.1tab. BIC Classification: KCA. Category: (U) Tertiary Education (US: College). Dimension: 229 x 152 x 17. Weight in Grams: 440. . 2009. Revised ed. paperback. . . . .

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Bibliographic Details

Title: Structural Change and Economic Growth: A Theoretical Essay on the Dynamics of the Wealth of Nations
Publisher: Cambridge University Press
Publication Date: 2009
Language: English
ISBN 10: 0521274109
ISBN 13: 9780521274104
Binding: Soft cover
Condition: New

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First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of output, choice of technique and international trade.

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