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Primitive Accumulation, Growth and the Genesis of Social Classes

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  • Jean-François Jacques
  • Antoine Rebeyrol

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

Unlike Stiglitz, we show that an inegalitarian long run equilibrium can emerge in a Solow growth model framework, assuming a linear consumption function. We then interpret this result in line with Marxian economics, showing that this dynamic framework is consistent with Roemer's idea of endogenous class stratification. We extend this calculation by incorporating some features of the Pasinetti-Samuelson-Modigliani model, and provide an example of possible microfoundations.

Suggested Citation

  • Jean-François Jacques & Antoine Rebeyrol, 2007. "Primitive Accumulation, Growth and the Genesis of Social Classes," Working Papers hal-04139232, HAL.
    • Handle: RePEc:hal:wpaper:hal-04139232
    Note: View the original document on HAL open archive server: https://hal.science/hal-04139232
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    References listed on IDEAS

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    2. Philippe Aghion & Patrick Bolton, 1997. "A Theory of Trickle-Down Growth and Development," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(2), pages 151-172.
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    Cited by:

    1. Jean Cartelier, 2014. "Entrepreneurs and wage-earners: a monetary approach," EconomiX Working Papers 2014-19, University of Paris Nanterre, EconomiX.

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    Keywords

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    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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