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Models of economic growth and land augmenting technological change in foodgrain production
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Models of economic growth and land augmenting technological change in foodgrain production
The author maintains in his paper that in low income countries the supply of labor or of labor services to both the agricultural or non-agricultural sectors is highly elastic with respect to the real wage rate, but that its mobilization requires an enlarged supply of wages goods.
Mellor, John W. · 1970
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Abstract
Economic growth is then perceived as a process of both productively employing more labor and of increasing the capital stock -- the former achieved in part by allocating resources to producing wages goods, the latter by resource allocation to capital goods. The paper reviews various types of growth and dualistic models from the point of view of their relevance to technological change in agriculture; states and theoretical conditions of a major contribution of agriculture to economic growth and suggests lines along which further development of models of economic growth might usefully proceed.
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