Primitive Accumulation, Growth and the Genesis of Social Classes

Jean-François Jacques and Antoine Rebeyrol ()
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Antoine Rebeyrol: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: Unlike Stiglitz, we show that an inegalitarian long run equilibrium can emerge in a Solow growth model framework, assuming a linear consumption function. We then interpret this result in line with Marxian economics, showing that this dynamic framework is consistent with Roemer's idea of endogenous class stratification. We extend this calculation by incorporating some features of the Pasinetti-Samuelson-Modigliani model, and provide an example of possible microfoundations.

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Date: 2007
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Journal Article: PRIMITIVE ACCUMULATION, GROWTH AND THE GENESIS OF SOCIAL CLASSES (2010)
Working Paper: Primitive Accumulation, Growth and the Genesis of Social Classes (2007)
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