Knowledge that Transforms

Journal Article Recent Publications Get access The Quarterly Journal of Economics, Volume 83, Issue 1, February 1969, Pages 171–172, https://doi.org/10.1093/qje/83.1.171 Published: 01 February 1969

Recent Publications Get access The Quarterly Journal of Economics, Volume 83, Issue 4, November 1969, Page 706, https://doi.org/10.1093/qje/83.4.706 Published: 01 November 1969

Journal Article Recent Publications Get access The Quarterly Journal of Economics, Volume 83, Issue 3, August 1969, Pages 529–531, https://doi.org/10.1093/qje/83.3.529 Published: 01 August 1969

Journal Article Recent Publications Get access The Quarterly Journal of Economics, Volume 83, Issue 2, May 1969, Pages 349–351, https://doi.org/10.1093/qje/83.2.349 Published: 01 May 1969

Journal Article Gresham's Law and the Demand for NRU's and SDR'S: A Reply Get access Robert Z. Aliber Robert Z. Aliber University of Chicago Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 83, Issue 4, November 1969, Pages 704–705, https://doi.org/10.2307/1885459 Published: 01 November 1969

Journal Article On the Sensitivity of the Level of Output to Savings: Embodiment and Disembodiment: A Clarificatory Note Get access Franklin M. Fisher, Franklin M. Fisher Massachusetts Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar David Levhari, David Levhari Hebrew University Search for other works by this author on: Oxford Academic Google Scholar Eytan Sheshinski Eytan Sheshinski Hebrew University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 83, Issue 2, May 1969, Pages 347–348, https://doi.org/10.2307/1883092 Published: 01 May 1969

Journal Article The Optimality of Pure Competition in the Capacity Problem: Further Comment Get access Michael A. Crew Michael A. Crew Carnegie-Mellon University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 83, Issue 2, May 1969, Pages 341–343, https://doi.org/10.2307/1883090 Published: 01 May 1969

Dobell and Ho have recently presented in this Journal 1 an aggregate model of the economy in which unemployment may be optimal with respect to a maximum consumption-over-time criterion. They carefully abstract from Phillips curve-type trade-offs involving the price level, or from frictional unemployment. Rather, they extend optimal capital accumulation models to include, in effect, human capital, with training costs and mortality considerationsi ntroduced. Their treatment of investment in training is analogous to wellknown results with respect to investment in physical capital. As is the case with respect to physical capital, there is some level beyond which consumption is diminished by further "human capital" accumulation. Costs of training (analogous to gross saving and investment) exceed returns, so that output remaining for consumption (output less investment in physical capital and less resources used in training) is lower than it might otherwise be. Dobell and Ho conclude that some unemployment (of "untrained" humans) may be consistent with maximum aggregate consumption through time. They mention the possibility of transfer payments to the unemployed, of course, though they are necessarily concerned with questions of production, not distribution..................

Journal Article An Optimal Unemployment Rate: Reply Get access A. R. Dobell A. R. Dobell University of Toronto Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 83, Issue 3, August 1969, Pages 521–523, https://doi.org/10.2307/1880537 Published: 01 August 1969