Accumulation and Technology

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Accumulation and Technology: Exemplar 1

Author:: Steindl, Josef

Scope:: Typoskript, 25 Blätter, mit zahlreichen handschriftlichen Anstreichungen

Year of publication:: 1984

Source material date:: [vermutlich um/vor 1984]

Language:: English

Note:: Exemplar 1 (Exemplar 2 mit anderen handschriftlichen Anmerkungen siehe AL00656753). Final version in: Trimestre Economico Nr. 207, Julio-Septiembre, 1985 Draft in: Economia Informa, Mayo, 1984

Topic:: Technology and education

JEL Classification:: O33 [Technological Change: Choices and Consequences, Diffusion Processes] E22 [Investment, Capital, Intangible Capital, Capacity] E24 [Employment, Unemployment, Wages, Intergenerational Income Distribution, Aggregate Human Capital, Aggregate Labor Productivity] E11 [General Aggregative Models: Marxian, Sraffian, Kaleckian] E12 [General Aggregative Models: Keynes, Keynesian, Post-Keynesian]

Shelfmark:: S/M.5.1

DOI:: https://doi.org/10.48671/nls.js.AC14446021

16 An adequate treatment of extended reproduction requires that we consider two stages separately: 1. Outlay ( disposition of resources ): I II C 1 C 2 °1 c 2 W 2 Gross investment capitalist's consumption Wage Bill This consists of constant capital which is equivalent to gross investment (if we consider an integrated department in which the item raw material concels out ), of capitalists consumption and of wages paid out ( which, as in Marx, are assumed to be fully spent on consumption ). 2. The second stage is realisation. The demand for the output of each of the departments can be derived from the first stage: C 1 + C 2 = °1 w 1 + w 2 + C 1 + C 2 °2 The division of the whole into wages and gross profits P (gross surplus ) results as follows: 0„ - W, "Y 1 II 0, 1 A. in other words gross profits in the economy are by the sum of investment outlay and capitalist's cpnsumption ( Kalecki ). TT*" 2 determined

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