This article investigates the changing relationship between employment and real output in the US economy from 1948 to 2010 at the aggregate level and at some major industry grouping levels of disaggregation. Real output is conventionally measured as value added corrected for price inflation, but...

This review essay of Critical Essays on Piero Sraffa's Legacy in economics situates Sraffa's work in relation to the Marshallian tradition and neo-Walrasian general equilibrium theory, and reviews the current state of debate between adherents of these traditions on the role of demand, returns to...

This paper develops a growth model with overlapping generations of workers who save for life-cycle reasons and Ricardian capitalists who save from a bequest motive. The population of workers accommodates growth, so that the rate of capital accumulation is endogenous and determines the growth of...