On the Welfare Significance of National Product in a Dynamic Economy
Martin L. Weitzman
Abstract
Martin L. Weitzman
Abstract
I. Introduction, 156. — II. A formulation of the problem, 156. — III. What is net national product? 159. — IV. Proof of the main proposition, 160. — V. Unanticipated technological change: an application, 161.
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I. Introduction, 156. — II. A formulation of the problem, 156. — III. What is net national product? 159. — IV. Proof of the main proposition, 160. — V. Unanticipated technological change: an application, 161.
Key concepts: Economics, Welfare, Proposition, Product (mathematics), National economy, Neoclassical economics, Keynesian economics, Economy