The Two-Sector Model of General Equilibrium (Harry G. Johnson on Trade Strategy & Economic Policy) - Softcover

Johnson, Harry G.

Softcover

ISBN 10: 1032050063 ISBN 13: 9781032050065

Publisher: Routledge, 2023

Synopsis

Originally published in 1971, this book presents in a lucid form the basic model of distribution in a two-sector general equilibrium system. While this model has been used by many economists, this was the first synoptic exposition of it to become readily available to students. The first part develops the two-sector model and its properties, using the geometrical tools of international trade theory. The second applies the model to some standard problems in the theory of income distribution, including the economics of redistributive taxes and subsidies, of trade union organization, and of minimum wage laws. The third part converts the model into a growth model and develops the conditions for convergence on a steady-state growth path and for the maximization of consumption per head at all points of time.

About this title

About the Author

Harry G. Johnson was Professor of Economics at the University of Chicago.

Edition details

• Publisher: Routledge
• Publication date: 2023
• Language: English
• ISBN 10: 1032050063
• ISBN 13: 9781032050065
• Binding: Paperback
• Edition number: 1
• Number of pages: 120