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This number of essays through Ruttan and Hayami spans their lengthy profession within the economics of technical and institutional swap. At either a theoretical and empirical point, their research of prompted innovation presents an excellent origin for realizing how and why applied sciences and associations evolve based on components that constrain them. Can fiscal progress Be Sustained? presents a sweeping clarification of this method. As students, Ruttan and Hayami's skills and stories complemented one another. jointly, that they had nice good fortune in operating throughout contexts to combine Western types of technological swap and extra holistic Asian views on multi-factorial interplay. Their views are vast ranging, masking huge geographical components and punctiliously analyzing the old improvement of agriculture within the usa, Japan, and plenty of different nations. This quantity collects their such a lot influential papers, from which a lot may be discovered.
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Extra info for Can Economic Growth Be Sustained?: The Collected Papers of Vernon W. Ruttan and Yujiro Hayami
This assumption is permissible if the inputs actually used in agriculture during 1945–48 were reasonably close to the inputs that would have been used under conditions of competitive equilibrium. Under conditions of competitive equilibrium, the productivity coeﬃcients for factors are proportional to their average productivities (Robinson 1948; Heady 1953). The contribution of technological change to output is expressed as a function of time. 1) zero technological change is assumed—the complete change in output is achieved by increasing the quantities of inputs employed in agriculture.
S. Department of Agriculture; and to his colleagues on the Tennessee Valley Authority’s Government Relations and Economics Staﬀ and the Agricultural Economics Branch for helpful comments and criticisms. 34 Can Economic Growth Be Sustained? 1. S. Department of Agriculture 1952a, (b) President’s Materials Policy Commission 1952, (c) President’s Water Resources Policy Commission (undated), (d) Cochrane and Lampe 1953, and (e) Daley 1954. For comments on the projections presented in the above studies, see (a) Heisig 1953, (b) Halvorson 1952, (c) S.
However, even a diﬀerence of as much as 10 points would not aﬀect total output requirements very much, since nonfood items represent a relatively small share of total farm output (about 20 percent in 1950). 05, the output requirement estimate would be 162 rather than 160 in 1975. In the event of continuous peace and high-level price supports between the present and 1975, net exports will no doubt fall considerably below the assumed level unless some sort of export subsidy is resorted to. President’s Water Resources Policy Commission (undated: 156–58) projects food requirements of 132 in 1975 (1949–51 = 100).