Utility Matters
Bibliographic Data
| ID | 4298149 |
|---|---|
| Authors | Mohamed Assaf (0009-0000-6475-0669), Matheus Assaf, Pedro Garcia Duarte (0000-0003-3525-7036) |
| Year | 2020 |
| Volume | 52 |
| Issue | 5 |
| Pages | 863-894 |
| Publication date | 2020-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | History of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0018-2702 • E-ISSN: 1527-1919 |
| Publisher | Duke University Press (PUBLISHER • US) |
| DOI | 10.1215/00182702-8671855 |
| OpenAlex | W2900331412 |
| Language | EN |
| Citations received | 2 |
| References cited | 58 |
The present-day standard textbook narrative on the history of growth theory usually takes Robert Solow's 1956 contribution as a key starting point, which was extended by David Cass and Tjalling Koopmans in 1965 by introducing an intertemporal maximization problem that defines the saving ratio in the economy. However, the road connecting Solow to the Ramsey-Cass-Koopmans model is not so straightforward. We argue that in order to understand Koopmans's contribution, we have to go to the activity analysis literature that started before Solow 1956 and never had him as a central reference. We stress the role played by Edmond Malinvaud, with whom Koopmans interacted closely, and take his travel from the French milieu of mathematical economics to the Cowles Commission in 1950-51 and back to France as a guiding line. The rise of turnpike theory in the end of the 1950s generated a debate on the choice criteria of growth programs, opposing the productive efficiency typical of these models to the utilitarian approach supported by Malinvaud and Koopmans. The Vatican Conference of 1963, where Koopmans presented a first version of his 1965 model, was embedded in this debate. We argue that Malinvaud's (and Koopmans's) contributions were crucial to steer the activity analysis literature toward a utilitarian analysis of growth paths
Commission · Economics · Growth model · Mathematical economics · Maximization · Microeconomics · Narrative · Neoclassical economics · Order (exchange · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy · Philosophy
The Hegemony of Growth
Optimum Growth in an Aggregative Model of Capital Accumulation
A Model of General Economic Equilibrium
Economie et Interet
Mathematical Models of Economic Growth
Les comptes de la puissance
Les économistes français en 1950
A Study in the Theory of Economic Evolution
Macro-Economic Theory. A Mathematical Treatment
Mathematical Models of Economic Growth
A Neo-Classical Theory of Economic Growth
The Theory of Economic Growth
A la Recherche d'une Discipline Economique
A Mathematical Theory of Saving
A Contribution to the Theory of Economic Growth
The Vatican Conferences of October 7–13, 1963
Siting the New Economic Science
In the Kingdom of Solovia
Nobel Laureate
Gerard Debreu's Secrecy
The Neoclassical Growth Model and Twentieth-Century Economics
A Path Through the Wilderness
Macrodynamics of Economics
An Interview with Edmond Malinvaud
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2022 - 2022 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |