Malthusian regime: The Basic Structure of the Model 5

As is apparent from (17). e”(gt+1) depends upon the third derivatives of the production function of human capital. A concave reaction of the level of education to the rate of technological progress appears plausible economically, hence it is assumed tha
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The following proposition summarizes the properties of the intertemporal functions e(gt+1), na(zt,gt+i), and nb(gt+i) and their significance for the evolution in the substitution of quality for quantity in the process of development:
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Technological Progress

Suppose that technological progress, gt+1, that takes place between periods t and t + 1 depends upon the education per capita among the working generation in period £, ety and the population size in period t, Lt ace payday loan

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