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Journal Article
History of Political Economy (2009) 41 (Suppl_1): 67–87.
Published: 01 December 2009
... impulse. Furthermore, focus is on the reactions by Harrod and Domar et al. as well as on the distinction between two different instability problems, namely, the divergence between the warranted and the natural rates of growth that marked Solow's starting point, and the divergence between the warranted...
Journal Article
History of Political Economy (1996) 28 (2): 253–280.
Published: 01 June 1996
... of its existing level. G will vary directly with the time interval chosen, e.g. 1% per annum = A% per month. Let G, stand for the warranted rate of growth. The Warranted rate of growth is taken to be that rate of growth, which if it occurs will leave all parties satisfied that they have produced...
Journal Article
History of Political Economy (1985) 17 (4): 619–635.
Published: 01 November 1985
... of steady advance and not as oscillations around a static equilibrium” (ibid. 262). Many of the ideas incorporated in his dynamic theory are to be found in that book, but missing is Harrod’s ‘fundamental growth equation’ that defines the warranted rate...
Journal Article
History of Political Economy (1980) 12 (1): 97–123.
Published: 01 March 1980
... and demand equilibrium with the dynamic equilibrium concept of the ‘warranted’ rate of change.8 The “Essay” is thus not only a further elaboration of the novel method of analysis for cycles presented in The Trade Cycle, it is also the presentation of a new dynamic parallel 7. That the “Essay...
Journal Article
History of Political Economy (1996) 28 (2): 281–294.
Published: 01 June 1996
... acutely remarked, was Harrod’s true concern. The Warranted Rate Keynes remarked that Harrod’s use of the terms ‘warranted’ and ‘ex ante’ could generate confusion and suggested that Harrod should stick to the former. Marrod objected that he reserved the use of ‘warranted’ to indicate...
Journal Article
History of Political Economy (1984) 16 (2): 175–186.
Published: 01 June 1984
... rigid models which accepted as gospel the conflicting trends in ‘essential’ Marxism and were thus led to overdetermined, self-contradictory systems. Sheep in wolfs clothing: Harrod model in Marxian dress The initial Harrod 1939 model of warranted growth, which in some forms becomes...
Journal Article
History of Political Economy (1995) 27 (2): 309–343.
Published: 01 June 1995
... of the determinants. As regards the “Essay in Dynamic Theory,” it might be useful to re- member how the equation describing warranted growth is defined. Let s = S/Y and C, = I/AY. (2) These equalities define s and C, by income Y, income changes AY...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 149–160.
Published: 01 December 2009
... of Solow’s major goals in the 1956 paper was to overcome the so- called knife-edge instability problem associated with Roy Harrod’s (1939) dynamic model. While Solow simply assumed away the instability prob- lem that Harrod posed between the warranted and actual rates of growth by eliminating any...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 1–23.
Published: 01 December 2009
... sees this knife-edge property as the result of an incon- sistency between Harrod’s warranted rate of growth, determined as the ratio of the savings rate and the capital-output ratio, and his natural rate of growth, determined by the rates of technical progress and population growth. Solow argues...
Journal Article
History of Political Economy (1992) 24 (1): 268–271.
Published: 01 March 1992
... tends to assume that it did, perhaps taking his previous volumes as warrant, but that still seems to me an open question. Reisman writes in an easy if sometimes wearingly over-febrile style. The striv- ing for rhetorical flourish occasionally carries him into absurdity as in, “the pari- bus...
Journal Article
History of Political Economy (2001) 33 (3): 641–648.
Published: 01 September 2001
... was seventy-one years old. The Choice: Whose WorkGets Mathematized? Hans’s approach to selecting those of his professional forbears whose work warranted mathematical translation illustrates his general approach to the scholarly enterprise. It also reflects the personal modesty that his friends...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 88–106.
Published: 01 December 2009
... and Cycle Theories 91 mand of the required mathematics thwarted the ambitious attempt. Har- rod’s own aim there was to deal with something much more complex than the mere (knife-edge) stability issue that was going to be read in it later. Once the concept of the warranted rate of growth...
Journal Article
History of Political Economy (2001) 33 (Suppl_1): 213–234.
Published: 01 December 2001
... in warranting consistency among different sets of indices and measures. It seems that Stone was not alone in emphasizing the issue of consistency in measurement. Logical consistency as balance between different measures was achieved through the principle of double entry applied to a system of four...
Journal Article
History of Political Economy (1995) 27 (3): 449–476.
Published: 01 September 1995
... Considering The Wealth of Nations as an argument for a blueprint for a social order proposed to be superior to that contemporaneously in existence in late eighteenth-century Britain,’ it is appropriate to ask what warranted Smith’s belief that the conclusion of his argument is valid. Most...
Journal Article
History of Political Economy (1977) 9 (1): 153.
Published: 01 March 1977
...- plain the various cases examined, in contrast to Hobsonian and Marxist ex- planations. Second, there is no factual warrant for regarding the nature and causes of empire expansion in the last quarter of the nineteenth century as different in essence from those of periods prior to 1870. Third...
Journal Article
History of Political Economy (1972) 4 (2): 267–268.
Published: 01 June 1972
... in grouping them together? When their works are compared with the writings of their predecessors and suc- cessors, do their contributions seem suEciently novel and significant to warrant the dramatic designation usually accorded them? In short, was there in fact a marginal revolution? And if so...
Journal Article
History of Political Economy (1983) 15 (2): 284.
Published: 01 June 1983
... are supported by an awesome two hundred and forty footnotes). Still, the author’s scholarship is admirable, and the topic warrants the attention of historians of economic thought. The “land question” encompasses the variety of legal and customary rights and duties relating to landed property...
Journal Article
History of Political Economy (2000) 32 (1): 160–161.
Published: 01 March 2000
... directing its program for improving business school education warrants only six sentences (56). Dates are not always given, and since there is no bibliography it is sometimes difficult to place a publication in its time frame or in contemporaneous develop...
Journal Article
History of Political Economy (2013) 45 (3): 475–504.
Published: 01 September 2013
... that equivalents are exchanged, i.e. that commodities are sold at their value, i.e. in propor- tion to the labor time contained in them” (28). However, he does not offer a logical warrant for this claim, and the basis for such an inference is not evident. For example, granting that surplus value must...
Journal Article
History of Political Economy (2003) 35 (2): 305–322.
Published: 01 June 2003
... an application of this method of analysis to the succes- sive phases of the trade cycle. In the course of it the values expressed by the symbols on the right-hand side of the equation undergo consid- erable change. As actual growth departs upwards or downwards from the warranted level, the warranted...