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INTRODUCING THE 'GOLDEN RULE' OF ECONOMIC GROWTH IN CAPITALIST ECONOMIES. ALLAIS, MAURICE. 1911-2010. Économie & Intérêt: Présentation nouvelle des problèmes fondamentaux relatives au rôle économique du taux de l'intérêt et de leurs solutions. Paris: Imprimerie Nationale, 1947. 8vo. Publisher's printed wrappers, rebacked and recornered, retaining original spine. Provenance: Hon. Stanley C. Wisniewski (pencil inscription). FIRST EDITION OF ALLAIS'S MAJOR WORK, INTRODUCING THE 'GOLDEN RULE' OF ECONOMIC GROWTH, AND THE CONCEPT OF 'OVERLAPPING GENERATIONS.' Following on the work of Walras, Fisher and Pareto, Allais formulated new dimensions including the 'golden rule,' the idea that the optimal interest rate for growth within a capitalist economy was equal to the rate of growth, as well as the theory of 'overlapping generations' (OLG), one of the dominant models of dynamic economic growth, popularized, and often misattributed to Paul Samuelson, in 1958. Samuelson himself later noted, 'Had Allais earliest writings been in English, a generation of economic theory would have taken a different course.' For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing
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INTRODUCING THE 'GOLDEN RULE' OF ECONOMIC GROWTH IN CAPITALIST ECONOMIES. ALLAIS, MAURICE. 1911-2010. Économie & Intérêt: Présentation nouvelle des problèmes fondamentaux relatives au rôle économique du taux de l'intérêt et de leurs solutions. Paris: Imprimerie Nationale, 1947. 8vo. Publisher's printed wrappers, rebacked and recornered, retaining original spine. Provenance: Hon. Stanley C. Wisniewski (pencil inscription). FIRST EDITION OF ALLAIS'S MAJOR WORK, INTRODUCING THE 'GOLDEN RULE' OF ECONOMIC GROWTH, AND THE CONCEPT OF 'OVERLAPPING GENERATIONS.' Following on the work of Walras, Fisher and Pareto, Allais formulated new dimensions including the 'golden rule,' the idea that the optimal interest rate for growth within a capitalist economy was equal to the rate of growth, as well as the theory of 'overlapping generations' (OLG), one of the dominant models of dynamic economic growth, popularized, and often misattributed to Paul Samuelson, in 1958. Samuelson himself later noted, 'Had Allais earliest writings been in English, a generation of economic theory would have taken a different course.' For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing
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Stichworte: Book