Summary: Following closely the approach to optimal economic growth taken in the work of Frank Ramsey (1928), a highly simplified two-sector model is presented in which the "overhead capital" sector exhibits increasing returns to scale. Basic properties of the optimal growth path are discussed...

The theories of saving presented by Keynes, Duesenberry, and Friedman use three different measures of income to explain saving, and each theory has been supported by empirical evidence. The evidence consists of tests of a wide variety of hypotheses contained within or derived from the theories....

The paper reformulates Houthakker's capacity method for quadratic programming in the framework of the Simplex and dual methods for quadratic programming, thereby greatly reducing the conceptual and computational complexities of the method. It is shown that the method is applicable for all convex...