The Influence of the Capital-Output Ratio on Real National Income

Econometrica ◽  
1962 ◽  
Vol 30 (4) ◽  
pp. 700 ◽  
Author(s):  
Maurice Allais
Keyword(s):  
National Income ◽  
Output Ratio ◽  
Real National Income

The Real National Income of Soviet Russia Since 1928

Econometrica ◽  
1963 ◽  
Vol 31 (1/2) ◽  
pp. 277
Author(s):  
Colin Clark ◽  
Abram Bergson
Keyword(s):  
National Income ◽  
The Real ◽  
Soviet Russia ◽  
Real National Income

scholarly journals Foreign Capital Inflow, Technology Transfer, and National Income

2001 ◽  
Vol 40 (1) ◽  
pp. 49-56 ◽  
Author(s):  
Sarbajit Chaudhuri
Keyword(s):  
Technology Transfer ◽  
Open Economy ◽  
Foreign Capital ◽  
Full Employment ◽  
Small Open Economy ◽  
National Income ◽  
Capital Inflow ◽  
Short Paper ◽  
Export Sector ◽  
Output Ratio

According to Jones and Marjit (1992), in a two-sector, full-employment model it is not possible to show that growth in the foreign capital employed in the export sector of a small open economy will lead to a fall in the welfare in the presence of a protected import-competing sector. In this short paper, we have shown that one may get the immiserising result even in this framework if the inflow of foreign capital into the export sector is accompanied by technology transfer, which leads to a fall in the labour-output ratio in this sector.

The Cost of World War II to the Soviet People: Two Five-Year Plans?

1980 ◽  
Vol 40 (4) ◽  
pp. 842-844 ◽  
Author(s):  
Edward Saraydar
Keyword(s):  
World War Ii ◽  
National Income ◽  
Soviet Economy ◽  
World War ◽  
Direct Estimate ◽  
Total War ◽  
Upper Limit ◽  
Income Data ◽  
Output Ratio ◽  
The Cost

In a recent paper in this Journal, James Millar and Susan Linz seek “to determine the reasonableness of the Soviet claim that World War II cost the Soviet economy two Five-Year Plans.” They argue that Soviet direct estimates of non-human war cost (capital loss plus direct war outlays plus wartime loss of national income), made by a postwar Extraordinary Commission, imply a cost per employed member of the 1940 population of 7.4 years' earnings. Their own indirect approximation of war cost—based on a construct which incorporates estimates of prewar and wartime propensities to consume and invest, a 30 percent capital loss claimed by the Soviets, and an assumed capital-output ratio of 3—is 3.9 years' earnings. After hypothesizing various values for their parameters, they conclude that “[t]he popular Soviet claim that World War II cost ‘two Five-Year Plans’ is, therefore, above the upper limit [6.0 years' earnings] of the range of the total war cost estimates calculated using Soviet national income data.”2 The implication is that their results cast significant doubt on “the reasonableness” of Soviet claims of war cost. This paper will demonstrate that if the Soviet direct estimate of war cost is properly expressed in Sovietmeasured 1940 consumption years, Millar-Linz's perceived divergence between the Soviet direct and their indirect estimate of war cost disappears.

scholarly journals Final Asigment

2019 ◽  
Author(s):  
Yulia Fitra
Keyword(s):  
Economic Growth ◽  
Income Distribution ◽  
Gross National Product ◽  
National Income ◽  
National Product ◽  
The People ◽  
Real Increase ◽  
Real National Income

Eonomic growth itself is a process where there is a real increase in gross national product or real national income in a country. Economic growth is essentially aimed at improving the welfare of the people (walfare), therefore it requires increased economic growth and more equitable income distribution. However, if the growth is followed by an improvement in income distribution, it will be difficult to create prosperity for the community in general, because the income distribution is uneven or does not run smoothly, so that it will automatically disrupt the Indonesian economy, and will be in poverty.

scholarly journals CAPITAL, GROWTH AND INEQUALITY IN PIKETTY’S APPROACH. A CRITICAL REVIEW

2019 ◽  
Author(s):  
Renata Targetti Lenti
Keyword(s):  
Critical Review ◽  
National Income ◽  
Global Scale ◽  
Point Of View ◽  
Rate Of Return ◽  
Capital Growth ◽  
Return On Capital ◽  
Output Ratio ◽  
Almost All ◽  
Over Time

The paper is a critical review of Piketty’s book “Capital in the XXI Century”. The 950 pages of the French original, and the 696 pages of the English translation, are packed with so many topics, insights, comments and observations that affect almost all spheres of economics, that no single review can summarize them. This review will focus mainly on the factors which can explain the trends regarding the concentration of wealth and of personal income distribution. It will also present some features of the theoretical framework and discuss some of the aspects which can be considered weak from an analytical and methodological point of view. Piketty uses simple economic models to investigate how the ratio between the saving rate and the growth rate of the economy determines the capital-output ratio, and consequently the share of capital in the national income. When the rate of returns on capital rises more quickly than the overall economy and taxes on capital remain low, a vicious circle of ever-growing dynastic wealth, and growing inequality takes place. “Capital is back because low growth is back”. Using the best available historical data, Piketty shows how the capital-output ratio, the capital share in national income, and the rate of return on capital, has evolved over time. Piketty discusses the changes observed, what the main social and economic forces at work are, why these forces change over time, and what we can predict about how the rate of return on capital will evolve in the twenty-first century. The last chapters discuss some policy proposals. Piketty claims that inequality is the result of policies. Only “good” policies can reverse a trend of rising inequality. It is necessary to introduce alternative policies because the composition of wealth is heterogeneous. Piketty suggests a progressive wealth tax on a global scale, based on the automatic exchange of bank information, not only as “useful utopia”, but as a proposal to think about and to discuss. In particular it would be necessary to adopt a progressive taxation on wealth on a worldwide level.

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