Distribution and Growth

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Distribution and Growth

Author:: Steindl, Josef

Scope:: Typoskript, 19 Blätter; mit handschrifltichen Anmerkungen und Ergänzungen sowie 1 Notizblatt mit handschriftlichem Text, geheftet.

Year of publication:: ohne Datum

Language:: English

Description:: Steindl analyses the relation of distribution and growth starting with the nature and the process of long-term development.

Note:: Notizblatt mit dem Titel "Include in the lecture on distribution".

Related work:: Steindl, Josef: Distribution and Growth. In: Steindl. Josef: Economic Papers 1941-88. London: Macmillan, 1990, S. 328-355 Steindl, Josef: Distribution and Growth. In: Political Economy. Studies in the Surplus Approach, Vol. 1, Issue 1, 1985, S. 53-68

Topic:: Saving and distribution

JEL Classification:: O11 [Macroeconomic Analyses of Economic Development]

Shelfmark:: S/M.71.4

Access:: Free access

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Document type:: Chapter

Title:: Distribution and Growth.

Access:: Free access

2 But in reality the innovations which mark the long run change are themselves determined or influenced by the preceding economic process. This is so because new know-how can not develop in abstract space but only in close association with the process of production and investment (learning by doing). It is a joint product of the actual economic process. By this earthbound character of technological evolution (which also applies to the scientific evolution which is as much a product as a source of the former) it is closely related to accumulation which it brings about as well as being brought about by it. How can we separate out what is exogenous from the technological development (evolution of know-how)? This is difficult because the know-how is always bound up with accumulation, output and productivity, and seems to be measureable only in this form. What then shall we put on the right hand side of the differential equation? It can not be the innovation, a full grown result of a stage of evolution. But if we try to go back to earlier stages in the development of the know-how (invention? research results?) we shall get no further because we can hardly quantify it. In a non-committal way we can represent the exogenous element simply as a random shock. (This I did in my paper on Concepts and Ideas of Growth). But this looks rather like an evasive

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