FIRST SEPARATE EDITION OF NEOCLASSICAL GROWTH WITH FIXED FACTOR PROPORTIONS

SOLOW, Robert, TOBIN, James, WEIZSACKER, Carl Christian von, and YAARI, Menahem. "Neoclassical Growth with Fixed Factor Proportions." OFFPRINTED FROM: The Review of Economic Studies, Volume XXXIII, Number 2, pp. 79-115. (Edinburgh: Oliver and Boyd), [1966]. Large octavo, staple-bound as issued, original green paper wrappers. $1750.

First separate edition of this important work on neoclassical growth by four of the 20th century's most talented social scientists including two Nobel laureates.

Winner of the 1987 Nobel Prize in Economics, Robert Solow is one of the world's best theorists on economic growth. His contributions in the area of macroeconomic growth are unparalleled. This work, which he wrote with fellow Nobel Prize-winner James Tobin (awarded for his "analysis of financial markets and their relations to expenditure decisions, employment, production and prices"), Carl von Weizsacker (a theoretical physicist and philosopher), and Menahem Yaari (an award-winning Israeli economist), reflects the depth of his economic knowledge. Here, the authors look at "a completely aggregated model of production in which output is produced by inputs of homogeneous labor and heterogeneous capital goods, and allocated either to consumption or to use as capital goods." Their purpose is to examine a new model; to examine the effects of "quickening" and "deepening"; to look at a model in which capital and labor are not substitutable for one another; to find a way of unifying the theories of production and effective demand; and to determine whether ex ante choice of technique is important. This offprint is a hard-hitting and equation-heavy attempt to look at all of those issues in a mere 36 pages. Despite its brevity and split authorship, Solow believed it to be one of his great accomplishments and included it in his short list of references when he was awarded the Nobel Prize. The first edition was published in April of 1966.

Tiny red varnish stain and rub mark to wrappers, text generally quite fresh. An extremely good copy.