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Perspectives on Allyn Young in Theories of Endogenous Growth

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  • Sandilands, Roger J.

Abstract

A central message of Allyn Abbott Young's (1928) seminal paper on increasing returns and economic progress was the seeming tautology that “the division of labor depends in large part upon the division of labor.” From this he deduced that a major source of growth is growth itself. In this fundamental sense growth is endogenous and cumulative. He spoke of the “togetherness” of economic phenomena and doubted that the apparatus of supply and demand and marginal productivity theory could be integrated to give the social picture or explain why growth tends to be self-sustaining rather than self-exhausting.

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  • Sandilands, Roger J., 2000. "Perspectives on Allyn Young in Theories of Endogenous Growth," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(3), pages 309-328, September.
    • Handle: RePEc:cup:jhisec:v:22:y:2000:i:03:p:309-328_00
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    Cited by:

    1. Robert W. Dimand, 2012. "The Roots of the Present are in the Past: The Relation of Postwar Developments in Macroeconomics to Interwar Business Cycle and Monetary Theory," Chapters, in: Thomas Cate (ed.), Keynes’s General Theory, chapter 5, Edward Elgar Publishing.
    2. Rosolino A. Candela, 2022. "The Division of Labor and Knowledge is Limited by the Division of Ownership Over the Ultimate Resource: The Role of Economies of Scope in Julian Simon," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(3), pages 323-341, September.
    3. Voosholz, Frauke, 2014. "A survey on modeling economic growth. With special interest on natural resource use," CAWM Discussion Papers 69, University of Münster, Münster Center for Economic Policy (MEP).
    4. Maiju Perälä, 2003. "'Looking at the Other Side of the Coin': The Relationship between Classical Growth and Early Development Theories," WIDER Working Paper Series DP2003-38, World Institute for Development Economic Research (UNU-WIDER).
    5. Ramesh Chandra & Roger Sandilands, 2006. "The role of pecuniary external economies and economies of scale in the theory of increasing returns," Review of Political Economy, Taylor & Francis Journals, vol. 18(2), pages 193-208.
    6. Yao-Su Hu, 2019. "The Impact of Increasing Returns on Knowledge and Big Data: From Adam Smith and Allyn Young to the Age of Machine Learning and Digital Platforms," SPRU Working Paper Series 2019-14, SPRU - Science Policy Research Unit, University of Sussex Business School.
    7. Musa Jega Ibrahim, 2006. "An evaluation of the developmental implications of the World Bank and IMF lending policies," Working Papers id:535, eSocialSciences.
    8. Florentine Schwark, 2010. "Economics of Endogenous Technical Change in CGE Models - The Role of Gains from Specialization," CER-ETH Economics working paper series 10/130, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    9. Ramesh Chandra, 2022. "Was Allyn Young a Marshallian?," Australian Economic Papers, Wiley Blackwell, vol. 61(2), pages 258-279, June.

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