IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-08633-7_16.html
   My bibliography  Save this book chapter

Optimality and Decentralization in Infinite Horizon Economies

In: Joan Robinson and Modern Economic Theory

Author

Listed:
  • Robert A. Becker
  • Mukul Majumdar

Abstract

The problem of economic growth was a major preoccupation of Joan Robinson. She was a major contributor to the post-Keynesian theory of economic growth that followed the publication of Harrod’s seminal dynamic model. She wrote extensively and critically on the foundations of neoclassical growth theory; her concern for logically sound argument lay behind her extensive writings questioning the validity of an aggregate capital concept and the corresponding notion of an aggregate production function. Her critique of neoclassical theory placed her at the forefront of the still raging ‘Cambridge controversy’ in capital theory. Joan Robinson’s work on capital and growth also showed a real concern that economic dynamics be studied as a process in real time. The dynamics of the stationary state might be a useful starting point, but the more serious concerns were the relationship between the short- and long-run periods in the process of accumulation and growth. She also stressed the importance of understanding the evolution of economies outside equilibrium positions.

Suggested Citation

  • Robert A. Becker & Mukul Majumdar, 1989. "Optimality and Decentralization in Infinite Horizon Economies," Palgrave Macmillan Books, in: George R. Feiwel (ed.), Joan Robinson and Modern Economic Theory, chapter 16, pages 436-504, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-08633-7_16
    DOI: 10.1007/978-1-349-08633-7_16
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-08633-7_16. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.