The Growing Economy (Routledge Revivals) : Principles of Political Economy Volume II book cover
1st Edition

The Growing Economy (Routledge Revivals)
Principles of Political Economy Volume II

ISBN 9780415621755
Published October 21, 2013 by Routledge
512 Pages

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Book Description

First published in 1968, This is the second part of Professor Meade’s Principles of Political Economy, which presents a systematic treatment of the whole field of economic analysis in the form of a series of simplified models which are specifically designed to show the interconnections between the various specialist fields of economic theory.

In this volume, Professor Meade is concerned with the theory of economic growth and the rates at which various economic quantities are growing. In order to do this, he introduces capital goods into the system and allows for growth through capital accumulation, population expansion and technical progress. His analysis is divided into two models: a one product model and a many-product model.

Table of Contents

Part 1: The One-Product Model  1. Six Assumptions  2. Money, Prices, and Interest in the One Product Model  3. Of Propdems, Plantcaps, and Other States of Society  4. The One-Product Model of Capitalistic Production  5. Changes in Standards of Living in Propdems and Plantcaps  6. The State of Trendy Growth. (1) Two Factors and no Technical Progress.  7. The State of Steady Growth (2) A Third Factor and Technical Progress  8. The Level of Consumption in a State of Steady Growth  9. The Determinants of Technical Progress  10. Demographic Adjustment  11. Population Growth and the Standard of Living  12. Savings (1) Perfect Selfishness  13. Savings (2) Perfect Altruism  14. From Propdem and Plantcap to Propcap  Part 2: The Many-Product Model  15. Capitalistic Production with Many Products  16. Money, Prices, and Interest in a Many-Product Economy  17. The Stationary State  18. Equilibrium Growth in a Competitive Economy  19. Planned Growth in a Socialist Economy  20. A Four-Product Model  21. Risk, Uncertainty and Enterprise  22. Three Methods of Reducing Risk and Uncertainty  23. Efficiency and Distribution Revisited - Conclusion

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‘It is a long time since anyone attempted to write a treatise … on economic analysis in general … This is a splendid and bold idea. Professor Meade is a master of lucid and rigorous theoretical exposition.’ – The Economist

‘It is outstandingly lucid. And, by bringing the basic notions of activity analysis and linear programming together by traditional price theory, it performs a much needed piece of synthesis at an elementary level.’ – New Society