This paper re-defines three hypothetical laws of capital accumulation including endogenous rate of accumulation and capital-output ratio as state variables. An original non-linear relationship relates their growth rates. Other state variables are output per worker, employment ratio and relative labour compensation. A comprehensive Phillips equation, governing real labour compensation, is an element of the initial law (HL-1). HL-2 substitutes the former equation by a new one that reflects a long-term tendency of relative labour compensation to fall.

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Date created

• 2010 July 25-2010 July 29

Type

• Document

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• Processing documentation available at: https://wiki.albany.edu/display/SCA/Processing+Ingested+Digital+Files

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• Creative Commons BY-NC-ND Attribution-NonCommercial-NoDerivs 4.0 International

  
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ITEM CONTEXT

Part of

17bfad39e1d09bfe17f82d7ae001449f

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Part of

23d738ba88f8333bc39725f9cb5bd0b8

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Part of

516b485dacfb3c26da448243f0948912

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Collection

System Dynamic Society Records

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Collecting area

• This collection is part of the University Archives