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Critical Comments on Phelps' ”Second Golden Rule Essay”

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  1. 1

    American Economic Review, Vol. LI, No. 4., September 1961.

  2. 2

    Under these assumptions there are an infinite number of balanced growth paths which can be reached in a finite period of time and strictly followed thereafter.

  3. 3

    American Economic Review, Vol. IV, No. 4, September 1965.

  4. 4

    Which had independently been derived by a number of other writers, among others by Carl C. v. Weizsäcker and T. W. Swan.

  5. 5

    See footnote 10, p. 809 of op. cit. under 3.

  6. 6

    See op. cit. under 3 p. 806

  7. 7

    This case is, of course, trival. For non trivial cases, see the author: „Balanced Growth under Factor Augmenting Technological Progress”, Publication No. 32/66, Netherlands Economic Institute, January 1966.

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Inagaki, M. Critical Comments on Phelps' ”Second Golden Rule Essay”. De Economist 114, 534–539 (1966).

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