A Study in the Theory of Economic Evolution

A₁ actually Adam Smith allotment functions alternative amount of capital analytical approach arbitrary constant assume assumption ay(t behavior capital accumulation consider corresponding defined depends described differential equation discussed dynamic model dynamic system economic evolution economic regions economic theory education and know-how effect efforts evolutionary dissimilarities exact model expected values explaining fact factors finite given global production function human idea initial conditions interregional level of education long-range economic development marginal productivity means nomic particular perhaps point of view positive possible probably problem properties question random elements random variables reason regard result rôle shocks occur simple models stagnation stationary level stationary solution stochastic differential equation stochastic process stochastically independent structural coefficients structural parameters Suppose t₁ technological theory of economic TRYGVE HAAVELMO variables variance o² various regions Y₁ Y₁X Y₂