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On Capital Allocation And The Real Cost Of Labour

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  • F. E. BANKS

    (University of Stockholm)

Abstract

This note is an extension of several contributions to the problem of resource allocation in a developing economy. In separate papers, I.M.D. Little and F. Setonl have introduced a model in which labour in a developing economy cannot be shifted from the subsistence to the industrial sector at zero opportunity cost, even though this labour displays zero marginal product in its 'traditional' occupations; and in what follows this problem will be attacked via a diagrammatic analysis. A short appendix will treat a side issue of the topic.

Suggested Citation

  • F. E. Banks, 1970. "On Capital Allocation And The Real Cost Of Labour," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 10(4), pages 491-499.
    • Handle: RePEc:pid:journl:v:10:y:1970:i:4:p:491-499
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    File URL: http://www.pide.org.pk/pdf/PDR/1970/Volume4/491-499.pdf
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    Cited by:

    1. Muhammad Irfan, 2010. "A Review of the Labour Market Research at PIDE 1957-2009," PIDE Books, Pakistan Institute of Development Economics, number 2010:1 edited by Rashid Amjad & Aurangzeb A. Hashmi.

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