Full text: Notizen - Wealth and Income Distribution

Gomulka (p.6)
(3)             G. accepts too easily Kalecki's treatment.
I distrust it, for once, the concept of an ? trend
in the strict sense is too restrictive. There might be long cycles
which in practice could play a role very similar to a trend.
I still think the fully satisfactory treatment would be an equation
with endogenous trend generation, yielding both trend+cycle(on ???)
1954 treatment with the capital term. Error on analysis of roots!!
4) What is the economic significance of the "minor cycles" the("?")?
They are of period <0. Their function is exclusively to adjust
the process to the initial conditions which are given in the form of
the time curve (function) of the investment for t=0 to t=?.

This adjustment is similar to 


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