Economic Growth and the Social Ownership of Overhead Capital, 1

Uzawa, H. (1974). Economic Growth and the Social Ownership of Overhead Capital, 1. IIASA Working Paper. IIASA, Laxenburg, Austria: WP-74-033

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Abstract

In order to analyze the role which the environment plays in the process of economic growth, one needs to re-examine the basic theoretical framework of the neoclassical economic theory in such a way that those scarce resources which are collectively owned and managed by the society are explicitly treated and analyzed in terms of a coherent theoretical framework. In this paper, I should like to present a preliminary report on the economics of social overhead capital and to indicate a number of propositions concerning the allocation of resources for the construction and maintenance of overhead capital and the optimum rules concerning the use of the services derived from such overhead capital.

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