The Two-Sector Model of General Equilibrium

The book "Distribution in a Two-Sector General Equilibrium System" presents a comprehensive model of distribution in a two-sector general equilibrium system, first published in 1971. It uses geometrical tools of international trade theory to develop the model and apply it to standard problems in income distribution, trade union organization, and minimum wage laws. The third part converts the model into a growth model.

Format: Paperback / softback
Length: 116 pages
Publication date: 12 July 2023
Publisher: Taylor & Francis Ltd

Originally published in 1971, this groundbreaking book offers a comprehensive and accessible introduction to the fundamental model of distribution in a two-sector general equilibrium system. While this model has been widely employed by economists, it is remarkable that this seminal exposition was the first to become readily accessible to students. The first part of the book develops the two-sector model and elucidates its key properties, employing the geometric tools of international trade theory. The second part applies the model to various standard problems in the theory of income distribution, encompassing the economics of redistributive taxes and subsidies, trade union organization, and minimum wage laws. The third part transforms the model into a growth model, exploring the conditions for convergence on a steady-state growth path and the attainment of maximum consumption per head at all points in time.

This comprehensive text provides a solid foundation for students seeking to understand the dynamics of distribution and growth in a two-sector economy. By presenting the model in a clear and concise manner, the author enables readers to grasp its core principles and apply them to real-world scenarios. Whether you are an economics student, researcher, or professional seeking to expand your knowledge in this field, this book is an invaluable resource.

Weight: 220g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032050065