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Koopmans combines Ramsey's distribution scheme with Solow's capital accumulation problem, but he ends up turning the entire output to new capital. His theory tries to starve out the existing population
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This paper discovers that Frank Ramsey had turned his growth model upside down to obtain the opposite outcome from expected. Subsequently, this paper refines his upright model to derive all his dream results. When Ramsey's dream is correct, any other definition of growth must be rejected
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This paper shows that Lewis' development theory is nothing but Malthus' dismal science. It re-addresses the important aspect of population to economic development, but emphasizes the free will to fertility. Finally, this paper advocates laissez faire and local self-governments as foundation for...
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This paper disproves Diamond's growth theory. It shows that his interacting functions are identical. No policy implication can be then derived, stable or not. Production possibility curve is just another way to express an isoquant with given budget constraint. Another equivalent, or indirect,...
Persistent link: https://www.econbiz.de/10012996011
This paper reproduces Cass's growth theory twice: once to reproduce his wrong growth theory, then to reproduce a correct capital theory. This paper applies steady-state and golden-rule to disprove Cass's wrong theory, and it also shows that measuring the slope of a marginal curve is a redundant...
Persistent link: https://www.econbiz.de/10012996990
Growth theory is supposed to enhance welfare of the population by raising their per capita output, income and consumption. But, if for that purpose population is reduced, such theory is anti-growth. This paper proves that Solow's growth theory is anti-growth, and that his use of population...
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This paper proves that Ramsey's growth theory always ends up with zero saving. When there is no saving, there can never be any growth. This paper advocates choosing another appropriate objective for any possible solution of growth
Persistent link: https://www.econbiz.de/10012997958
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