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Waiting and the Period of Production

Author

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  • Robert Dorfman

Abstract

"They also serve who only stand and wait." — Milton Statement of the problems, 351. — Böhm-Bawerk's analysis, 352. — Interest in a two-sector economy, 355. — Digression on waiting, 359. — Calculation of the period of production, 362. — Necessity of positive rate of interest, 364. — Sketch of more complicated models, 365. — Conclusions, 367. — Mathematical appendix, 367; the bathtub theorem, 367; solution of the Solow two-sector model, 368; direct calculation of the period of investment of waiting, 370.

Suggested Citation

  • Robert Dorfman, 1959. "Waiting and the Period of Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 73(3), pages 351-372.
    • Handle: RePEc:oup:qjecon:v:73:y:1959:i:3:p:351-372.
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    Cited by:

    1. Cachanosky Nicolás, 2017. "Austrian Economics, Market Process, and the EVA® Framework," Journal of Business Valuation and Economic Loss Analysis, De Gruyter, vol. 12(s1), pages 1-9, July.
    2. Malte Faber & Ralph Winkler, 2006. "Heterogeneity and Time," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(3), pages 803-825, July.
    3. Nicolás Cachanosky & Peter Lewin, 2016. "Financial Foundations of Austrian Business Cycle Theory," Advances in Austrian Economics, in: Studies in Austrian Macroeconomics, volume 20, pages 15-44, Emerald Group Publishing Limited.
    4. Lance Taylor, 2008. "A foxy hedgehog: Wynne Godley and macroeconomic modelling," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(4), pages 639-663, July.

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