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1、W.A.LewisonDevelopmentwithUnlimitedSuppliesofLabor1EconomicDevelopmentwithUnlimitedSuppliesofLabour1.Thisessayiswrittenintheclassicaltradition,makingtheclassicalassumption,andaskingtheclassicalquestion.Theclassics,fromSmithtoMarx,allassumed,orargued,thatanunlimitedsupplyoflabourwasavailab
2、leatsubsistencewages.Theythenenquiredhowproductiongrowsthroughtime.Theyfoundtheanswerincapitalaccumulation,whichtheyexplainedintermsoftheiranalysisofthedistributionofincome.Classicalsystemsstemsthusdeterminedsimultaneouslyincomedistributionandincomegrowth,withtherelativepricesofcommoditie
3、sasaminorbye-product.Interestinpricesandinincomedistributionsurvivedintotheneo-classicalera,butlabourceasedtobeunlimitedinsupply,andtheformalmodelofeconomicanalysiswasnolongerexpectedtoexplaintheexpansionofthesystemthroughtime.ThesechangesofassumptionandofinterestservedwellenoughintheEuro
4、peanpartsoftheworld,wherelabourwasindeedlimitedinsupply,andwhereforthenexthalfcenturyitlookedasifeconomicexpansioncouldindeedbeassumedtobeautomatic.OntheotherhandoverthegreaterpartofAsialabourisunlimitedinsupply,andeconomicexpansioncertainlycannotbetakenforgranted.Asia'sproblems,however,a
5、ttractedveryfeweconomistsduringtheneo-classicalera(eventheAsianeconomiststhemselvesabsorbedtheassumptionsandpreoccupationsofEuropeaneconomics)andhardlyanyprogresshasbeenmadefornearlyacenturywiththekindofeconomicswhichwouldthrowlightupontheproblems.ofcountrieswithsurpluspopulations.WhenKev
6、nes'sGeneralTheoryappeared,itwasthoughtatfirstthatthiswasthe.bookwhichwouldilluminatetheproblemsofcountrieswithsurpluslabour,sinceitassumedinunlimitedsupplyoflabouratthecurrentprice,andalso,initsfinalpages,madeafewremarksonseculareconomicexpansion.Furtherreflection,however,revealedthatKey
7、nes'sbookassumednotonlythatlabourisunlimitedinsupply,butalso,andmorefundamentally,thatlandandcapitalareunlimitedinsupply-morefundamentallybothintheshortrunsensethatoncethemonetarytapisturnedthereallimittoexpansionisnotphysicalresourcesbutthelimitedsupplyoflabour,and
