In this video, Complete Joan Robinson Growth model is discussed | @eComy If you like what we do, you might consider supporting us by buying us a coffee. www.buymeacoff...
Sir, when there is excess supply of labour in less developed countries then how wage rate will rise ? Should not wage be decreasing due to rise in population growth as it is leads to rise of labour supply
yes, but look at the golden age equilibrium Prof Joan Robinson states about that If growth rate of population is equal to the growth rate of capital, there will full employment of both labour and capital in the economy.
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