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1. Measuring Growth and Distribution

2.1 Measuring Output and Inputs
2.2 Time and Production
2.3 A Note on Units
2.4 Technology in the Real World
2.5 The Uses of Output: Investment and Consumption
2.6 The Social Consumption-Growth Rate Schedule
2.7 The Distribution of Income: Wages and Profit
2.8 The Real Wage-Profit Rate Schedule
2.9 Income Shares
2.10 The Growth-Distribution Schedule
2.11 Changes in Labor and Capital Productivity
2.12 Comparing Economies
2.13 Global Economic Leadership
2.14 Labor Productivity Growth in Real Economies
2.15 Stylized Facts
2.16 Suggested Readings

1. Models of Production

3.1 Accounting Frameworks and Explanatory Models
3.2 A Model of Production
3.3 Agents and Distribution
3.4 Social Accounting Matrix
3.5 Choice of Technique and Production Functions
3.6 Particular Production Functions
3.7 Classifying Technical Change
3.8 Two-Sector Growth-Distribution Schedules
3.9 Models of Production and Models of Growth
3.10 Suggested Readings

1. The Labor Market

4.1 Models of Economic Growth
4.2 Demand for Labor
4.3 The Classical Conventional Wage Model
4.4 The Neoclassical Full Employment Model
4.5 Toward a Model of Economic Growth
4.6 Growth in Real Economies
4.7 Suggested Readings

1. Models of Consumption and Saving

5.1 A Two-Period Consumption-Saving Model
5.2 An Infinite-Horizon Model
5.3 The Constant Saving Rate Model
5.4 Saving Rates and Growth Rates
5.5 Suggested Readings

1. Classical Models of Economic Growth

6.1 The Classical Conventional Wage Model
6.2 Comparative Dynamics in the Conventional Wage Model
6.3 Labor-Saving Technical Change in the Classical Model
6.4 Choice of Technique in the Classical Model
6.5 A Classical Model of Growth with Full Employment
6.6 Choice of Technique in the Classical Full Employment Model
6.7 Growth and Cycles
6.8 The Classical Approach to Growth
6.9 Suggested Readings

1. Induced Technical Change, Growth, and Cycles

7.1 The Induced Invention Hypothesis
7.2 Induced Technical Change in the Classical Full Employment Model
7.3 Growth Cycles with Induced Technical Change
7.4 ComparativeDynamics
7.5 Conclusions
7.6 Suggested Readings

1. Biased Technical Change in the Classical Model

8.1 The Classical Conventional Wage Share Model with Biased Technical Change
8.2 Viability of Technical Change
8.3 Biased Technical Change and the Fossil Production Function
8.4 The Classical Full Employment Model with Marx-Biased Technical Change
8.5 Reverse Marx-Biased Technical Change
8.6 One Vision of Economic Growth
8.7 Suggested Readings

1. Endogenous Technical Change

9.1 Technical Change in a Capitalist Economy
9.2 Learning by Doing
9.3 R&D Investment in Technical Change
9.4 How Much R&D?
9.5 Steady State Growth with No Persistent Effects of R&D
9.6 Steady State Growth with Persistent Effects of R&D
9.7 Persistent Effects of R&D with a Conventional WageShare
9.8 Suggested Readings

1. The Neoclassical Growth Model

10.1 The Solow–Swan Model
10.2 The Intensive Production Function
10.3 Saving, Population, and Steady State Growth
10.4 The Solow–Swan Model and the Growth-Distribution Schedule
10.5 The Complete Model
10.6 Substitution and Distribution
10.7 Comparative Dynamics
10.8 Transitional Dynamics
10.9 Limitations of the Solow–Swan Model
10.10 Suggested Readings

1. Technical Change in the Neoclassical Model

11.1 Technical Change and the Production Function
11.2 TheSolow–Swan Model with Harrod-Neutral Technical Change
11.3 Growth Accounting
11.4 Classical and Neoclassical Interpretations of the Residual
11.5 Comparative Dynamics in the Solow–SwanModel
11.6 Transitional Dynamics in the Solow–Swan Model
11.7 Suggested Readings
Appendix: Deriving the Convergence Equation

1. Demand-Constrained Economic Growth

12.1 The Global Crisis
12.2 Measuring Demand Shocks
12.3 Saving, Investment, and Output
12.4 A Model of Demand-Constrained Growth
12.5 Equilibrium in the Demand-Constrained Model
12.6 Comparative Dynamics in the Demand-Constrained Model
12.7 Profit-Led o rWage-Led Growth?
12.8 Long Run or Short Run?
12.9 The Distributive Curve
12.10 The Keynesian Contribution to Growth Theory
12.11 Suggested Readings
Appendix: The Marglin-Bhaduri Model

1. Land-Limited Growth

13.1 Non-Reproducible Resources
13.2 Ricardo’s Stationary State
13.3 Production with Land
13.4 The Capitalist’s Decision Problem with Land
13.5 The Arbitrage Principle
13.6 Equilibrium Conditions
13.7 The Abundant Land Regime
13.8 The Scarce Land Regime
13.9 From the Abundant to the Scarce Land Regime
13.10 Lessons of the Land-Limited Model
13.11 Suggested Readings

1. Exhaustible Resources

14.1 Growth with an Exhaustible Resource
14.2 Production with an Exhaustible Resource
14.3 Saving and Portfolio Choice
14.4 The Growth Path
14.5 Exhaustible Resources in the Rea lWorld
14.6 Suggested Readings

1. Corporate Capitalism

15.1 Accounting in the Corporate Capitalist Economy
15.2 Stocks and the Capitalist Decision Problem
15.3 Investment-Saving Equilibrium
15.4 The Corporate Capitalist Model
15.5 Stock Prices and the Asset Market
15.6 The Rentier Capitalist Regime
15.7 The Managerial Capitalist Regime
15.8 The Hybrid Capitalist Regime
15.9 Corporate Saving and the Equity Yield
15.10 Ownership and Control
15.11 An Application
15.12 Suggested Readings

1. Government Debt and Social Security: The Overlapping Generations Model

16.1 Government Finance and Accumulation
16.2 Government and Private Budget Constraints
16.3 Saving and Consumption with Selfish Households
16.4 Accounting int he Overlapping Generations Model
16.5 A Classical Overlapping Generations Growth Model
16.6 A Neoclassical Overlapping Generations Growth Model
16.7 Pareto-Efficiency in the Overlapping Generations Model
16.8 Analyzing Social Security and Budget Deficits
16.9 Social Security in the Overlapping Generations Model
16.10 Government Debt in the Overlapping Generations Model
16.11 The Lessons of the Overlapping Generations Model
16.12 Suggested Readings

1. Two-Class Models of Wealth Accumulation

17.1 Worker and Capitalist Saving
17.2 Accounting in the Two-Class Models
17.3 Accumulation with a Conventional Wage
17.4 Accumulation in the Full Employment Model
17.5 Wealth Distribution in the US
17.6 Conclusions
17.7 Suggested Readings
Appendix: Stability in the Full Employment Model

1. Global Warming

18.1 Global Warming and Economic Growth
18.2 Production with Greenhouse Gas Emissions
18.3 Saving and Portfolio Choice
18.4 The Growth Path with Fossil-Fuel Technology
18.5 The Growth Path with SolarTechnology
18.6 Coordinated Growth with Global Warming
18.7 Optimal and BAU Growth Paths
18.8 Centralized and Decentralized Economic Control
18.9 Suggested Readings

References
Index