This paper builds a heterogeneous-households growth model of a small open economy with fixed resource (land) by integrating the Walrasian general equilibrium and neoclassical growth theories. The production side consists of two sectors. We use an alternative utility function proposed by Zhang,...

The book deals with economic issues related to income and wealth among individuals, regions and countries. It presents a general theory with endogenous capital, knowledge and preference changes for an economic system with heterogeneous households, multiple sectors, multiple regions and multiple...

This book constructs a general economic theory to analyze how different economic forces interact over time. It proposes some new combinations of various economic forces which may function at various stages of social and economic evolution. The theory includes the main economic ideas of Smith,...