ebook9783662039458d4325

Description

Rent, resources, and technologies are three crucial issues to the understanding of history and economics. The scarcity of resources, its interplay with technology, and the role of rent in explaining both economic growth and income distribution are investigated by adopting a multi-sectoral and non-proportional model, where scarce resources impose several scale constraints that may slow growth, but may contribute to further development of new technologies. In this dynamic framework the category of rent acquires new dimensions with far-reaching implications for both the system of prices and the distribution of income. The analytical and formal-theoretical perspective of this book could be used as a basis for future historical and quantitative studies.