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Showing papers in "Research Papers in Economics in 1969"


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833 citations





Book ChapterDOI
TL;DR: The formal identity between consumption and production theory comes from the fact that in both cases the main problem is one of maximizing an ordinary function of several independent variables subject to a budget constraint.
Abstract: It is Wicksteed who first pointed out the ‘fascinating’ analogy between the laws of satisfaction and those of production.1 A trivial idea by now, the formal identity between consumption and production theory comes from the fact that in both cases the main problem is one of maximizing an ordinary function of several independent variables subject to a budget constraint.

80 citations




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TL;DR: The papers in this collection represent the first systematic and comprehensive effort to bring the techniques of economics to bear on a broad spectrum of securities regulation problems as discussed by the authors, which is the basis for our work.
Abstract: The papers in this collection represent the first systematic and comprehensive effort to bring the techniques of economics to bear on a broad spectrum of securities regulation problems.

50 citations




Book ChapterDOI
TL;DR: In classical theory, from Smith to Mill, fixed coefficients in production are assumed. as mentioned in this paper The firm plays little role in the general equilibrium of the economy, and no meaningful boundaries between firms are established.
Abstract: In classical theory, from Smith to Mill, fixed coefficients in production are assumed. In such a context, the individual firm plays little role in the general equilibrium of the economy. The scale of any one firm is indeterminate, but the demand conditions determine the scale of the industry and the demand by the industry for inputs. The firm’s role is purely passive, and no meaningful boundaries between firms are established. No doubt the firm or the entrepreneur was much discussed and indeed given a central role in the informal parts of the discussion; the role was that of overcoming disequilibria. When profit rates were unequal, profit-hungry entrepreneurs moved quickly, with the end-result of eliminating their functions.










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TL;DR: Bagwati's most important theoretical writings on international economics through 1969 have been collected in a volume by as discussed by the authors, which includes a survey of the pure theory of international trade.
Abstract: Professor Bhagwati has brought together in this volume his most important theoretical writings on international economics through 1969 A major contribution to the pure theory of international trade -- his Economic Journal survey of the subject -- is reprinted with an addendum which brings it up to date In addition, there are papers on propositions relating to gains from trade, and papers on tariffs, quotas and subsides, which cover both 'positive' and welfare aspects of trade theory Reprinted here are his well-known papers on immiserizing growth, including a recent generalization, and on the theory of optimal policy intervention under domestic distortions Four important essays on growth and development round out the volume The fifteen essays reprinted in this collection comprise all the most original contributions and surveys which have established Professor Bhagwati as a leading theorist of international trade The wide range of topics covered makes the whole book invaluable to all students of international economics




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TL;DR: The short-stemmed varieties of wheat and rice imported from abroad and the increased use of fertilizers have dramatically enlarged the potential for rapid increases in the agricultural output of West Pakistan.
Abstract: The short-stemmed varieties of wheat and rice imported from abroad and the increased use of fertilizers have dramatically enlarged the potential for rapid increases in the agricultural output of West Pakistan. This recent breakthrough in food-grains production is sometimes referred to as the ‘green revolution’. Because of the generally favourable conditions in West Pakistan in regard to irrigation water and solar energy, and of the unusually favourable weather in 1967/8 in particular, the ‘green revolution’ is spreading very rapidly. It is high time to focus our attention on some of the economic implications of the new developments in agriculture.