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Productivity, Real Wages, and Economic Growth

Arthur Smithies
Quarterly Journal of Economics 1960 74(2), 189
I. Facts and theory, 189. — II. Elements of the model, 192. — III. The operation of the model: nonmathematical, 193. — IV. Capital requirements, 197. — V. Mathematical recapitulation, 198. — VI. A numerical illustration, 204.