Showing papers on "Capital deepening published in 1982"
TL;DR: In this paper, the authors analyze the complex interrelationships between metropolitan development in the United States and the logic and dynamics of the system of economic production, and explain the process of productive activity dispersal in terms of a theory of capital deepening, restructuring, and reorganization of productive activities.
Abstract: . This paper offers an analysis of the complex interrelationships between metropolitan development in the United States and the logic and dynamics of the system of economic production. The argument begins with a brief historical review of U.S. metropolitan growth and change since the end of the last century. Following this is a discussion of the recent reversal in the broad pattern of metropolitan expansion over the past several decades. The resulting dispersal of productive activity to suburban and nonmetropolitan areas has now become one of the dominant processes shaping the contemporary economic landscape. This process of dispersal is explained in terms of a theory of capital deepening, restructuring, and reorganization of productive activities. Accompanying this dispersal, a new spatial division of labor of considerable geographical significance has emerged. The paper concludes with a restatement of the developmental logic of the U.S. metropolitan system as a predicament-laden outcome of the l...
49 citations
48 citations
TL;DR: The obvious economic, although not political, solution to the overinvestment in owner occupied housing in the 1970s would be to tax owner-occupied housing more heavily, thereby raising its user cost relative to that of industrial capital.
Abstract: The obvious economic, although not political, solution to the overinvestment in owner-occupied housing in the 1970s would be to tax owner-occupied hous ing more heavily, thereby raising its user cost relative to that of industrial capital
32 citations
TL;DR: The authors reviewed the early literature on human capital, from Petty via Smith, Engel, and Nicholson to Marshall, and various issues in current theory of human capital are briefly reviewed, including questions regarding categories of "tangible human capital" and "intangible nonhuman capital," investment in raising children, in schooling, and in research and development.
Abstract: After a few references to the early literature on human capital, from Petty via Smith, Engel, and Nicholson to Marshall, various issues in current theory of human capital are briefly reviewed. They include questions regarding categories of "tangible human capital" and "intangible nonhuman capital;" investment in raising children, in schooling, and in research and development; depreciation of human capital through obsolescence, loss of strength, illness, retirement, and death; conflicts between efficiency and equality in the educational system; wrong educational mix resulting in waste or even net loss; the problem of complementarity among different kinds of physical and human capital; and the complexity of econometric research on comparative returns to different investments.
17 citations
TL;DR: In this article, a technique for separating productivity gains associated with capital deepening, economies of scale, and neutral technological progress is discussed and is then applied to investigate, in a US setting, the "spatial" validity of the Verdoorn law.
Abstract: According to the Verdoorn law productivity rises faster in expanding economic sectors. The validity of the Verdoorn law has been investigated primarily for industries. Does the law also hold with respect to areal aggregates? Specifically, in the USA, are productivity gains larger in regions in which jobs and population expand faster?In this paper a technique for separating productivity gains associated with capital deepening, economies of scale, and neutral technological progress is discussed and is then applied to investigate, in a US setting, the ‘spatial’ validity of the Verdoorn law.
12 citations
TL;DR: In this paper, the authors consider changes in the standard of necessity, those which emerge when the worker "presses in the opposite direction" to the capitalist in the course of wage struggles.
6 citations
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TL;DR: In this article, the authors make two points as to how standard international trade theory is modified when an endogenous degree of capital utilization is introduced: if capital utilization during a period is less than full because of an exogenous time-dependent variation in productivity within the period, there is no modification of the standard theory.
Abstract: The paper makes two points as to how standard international trade theory is modified when an endogenous degree of capital utilization is introduced. The first point is that, if capital utilization during a period is less than full because of an exogenous time-dependent variation in productivity within the period, there is no modification of the standard theory. In particular, there is no need to adjust capital-intensity estimates according to the degree of capital utilization. This is in contrast to what has been argued in the literature. The other point is that, if capital utilization is less than full because of higher wages during part of the period, the night of a day and night, say, the required modification of trade theory is that of introducing several kinds of labor and endogenous labor supply, or, equivalently, of introducing nontraded goods.
4 citations
3 citations
TL;DR: In this article, a simple life-cycle savings model with irreversible capital was used to explore whether a real explanation exists for low rates of saving and capital formation in the United States' economy.