The Division of Labor in Roundabout Production and Emergence of New Machines and Related New Technology

Xiaokai Yang and Wai-Man Liu
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Wai-Man Liu: University of New South Wales, Australia

Chapter 15 in Inframarginal Economics, 2008, pp 465-493 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:Smithian vs. Neoclassical Views on the Emergence of New Producer Goods and Related New TechnologyA Model with Endogenous Technical Progress, Endogenous Number of Producer Goods, and Endogenous SpecializationThe Efficient Number of Producer Goods and Level of SpecializationThe Corner Equilibria in 9 StructuresConcurrent Changes in the Level of Division of Labor, Productivity, and Input DiversityEx post Production Function, Emergence of New Machines, and Endogenous Technical ProgressChanges in Economic Structure and Topological Properties of Economic OrganismEvolution in the Number of Producer Goods and Economic DevelopmentFurther ReadingQuestionsExercises

Keywords: Inframarginal Economics; Inframarginal Analysis; Division of Labor; Specialization; Network Effects; Smithian Framework; Transaction Costs (search for similar items in EconPapers)
JEL-codes: O30 (search for similar items in EconPapers)
Date: 2008
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