Showing 1 - 8 of 8
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This paper reproduces Cass's growth theory twice: once to reproduce his wrong growth theory, then to reproduce a correct capital theory. This paper applies steady-state and golden-rule to disprove Cass's wrong theory, and it also shows that measuring the slope of a marginal curve is a redundant...
Persistent link: https://www.econbiz.de/10012996990
Growth theory is supposed to enhance welfare of the population by raising their per capita output, income and consumption. But, if for that purpose population is reduced, such theory is anti-growth. This paper proves that Solow's growth theory is anti-growth, and that his use of population...
Persistent link: https://www.econbiz.de/10012997766
This paper proves that Ramsey's growth theory always ends up with zero saving. When there is no saving, there can never be any growth. This paper advocates choosing another appropriate objective for any possible solution of growth
Persistent link: https://www.econbiz.de/10012997958
This paper proves that the endogenous attempt to derive unlimited growth leads to bankrupting business. Endogenous growth requires increasing returns to scale, but its mathematical solution does not exist. Using Euler's theorem, this paper confirms that such theory ruins both the production...
Persistent link: https://www.econbiz.de/10013006193
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Koopmans combines Ramsey's distribution scheme with Solow's capital accumulation problem, but he ends up turning the entire output to new capital. His theory tries to starve out the existing population
Persistent link: https://www.econbiz.de/10013007345