The Division of Labor, Investment, and Capital

Preprint OPEN
Xiaokai Yang;
  • Subject: Criticism of investment fundamentalism, criticism of technology fundamentalism, Smithian model of investment, Smithian growth mechanism, evolution in division of labor
    • jel: jel:D23 | jel:D50 | jel:D90 | jel:O12

This paper uses a dynamic general equilibrium model based on corner solutions to formalize the classical theory of investment and capital which considers investment to be a vehicle for developing a high level of division of labor in roundabout productive activities. If ... View more
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