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A Classical Requiem for Robert Solow

Author

Listed:
  • Sugata Marjit

    (Hong Kong Polytechnic University
    Indian Institute of Foreign Trade
    CES-Ifo
    CSSSC)

Abstract

We prove an alternative and much simpler proof of the key results of the celebrated Solow growth model (Solow 1956), without the neo-classical production function and diminishing marginal productivity. The driving force behind the result is financial capital. We follow the classical wage fund theory in a Ricardian structure to derive our results. JEL CL. No.- O 41.

Suggested Citation

  • Sugata Marjit, 2024. "A Classical Requiem for Robert Solow," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 22(2), pages 297-301, June.
    • Handle: RePEc:spr:jqecon:v:22:y:2024:i:2:d:10.1007_s40953-024-00399-6
    DOI: 10.1007/s40953-024-00399-6
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    References listed on IDEAS

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    1. Ronald Findlay, 1995. "Factor Proportions, Trade, and Growth," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061759, December.
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    3. Marjit,Sugata & Kar,Saibal (ed.), 2018. "International Trade, Welfare, and the Theory of General Equilibrium," Cambridge Books, Cambridge University Press, number 9781108473873, January.
    4. Ronald W. Jones, 2018. "The Structure of Simple General Equilibrium Models," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 4, pages 61-84, World Scientific Publishing Co. Pte. Ltd..
    5. Sugata Marjit & Noritsugu Nakanishi, 2023. "The wage fund theory and gains from trade in a dynamic Ricardian model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 19(4), pages 879-897, December.
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    Keywords

    Financial Capital; Solow Growth Model;

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