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This selection of essays by means of Ruttan and Hayami spans their lengthy profession within the economics of technical and institutional swap. At either a theoretical and empirical point, their research of caused innovation offers an excellent beginning for knowing how and why applied sciences and associations evolve in accordance with elements that constrain them. Can fiscal progress Be Sustained? offers a sweeping rationalization of this procedure. As students, Ruttan and Hayami's skills and studies complemented one another. jointly, they'd nice luck in operating throughout contexts to combine Western versions of technological switch and extra holistic Asian views on multi-factorial interplay. Their views are extensive ranging, masking huge geographical parts and punctiliously analyzing the historic improvement of agriculture within the usa, Japan, and plenty of different international locations. This quantity collects their such a lot influential papers, from which a lot will be discovered.
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Extra resources for Can Economic Growth Be Sustained?: The Collected Papers of Vernon W. Ruttan and Yujiro Hayami
05), which is implicit in the estimates by Black and Gauss, is based on much less empirical evidence than the income elasticity of demand for the food items. However, even a diﬀerence of as much as 10 points would not aﬀect total output requirements very much, since nonfood items represent a relatively small share of total farm output (about 20 percent in 1950). 05, the output requirement estimate would be 162 rather than 160 in 1975. In the event of continuous peace and high-level price supports between the present and 1975, net exports will no doubt fall considerably below the assumed level unless some sort of export subsidy is resorted to.
This point has been made by Ellickson and Brewster (1947). While arguing rather strongly that technological advance in agriculture does not tend to reduce the eﬃciency of family-scale relative to larger-than-family-scale farms, they do point out that the association between owner-operatorship and managerial control is not a necessary condition of family-scale farming. D. G. Johnson (1950) indicates that the relatively ﬁxed prices of current input items have not, in the past, been important enough to bring about a downward shift in farm output during periods of declining farm prices.
For comments on the projections presented in the above studies, see (a) Heisig 1953, (b) Halvorson 1952, (c) S. E. Johnson 1952, (d) Trelogan and Johnson 1953, (e) Clark 1954, (f) Mason 1954, and (g) Black 1955. S. Department of Agriculture 1952b, Johnson and Barlowe 1954, and Koﬀsky 1954. 2. According to the Water Resources Policy Commission (undated: 159), “present food surpluses are transitory. ” 3. ” 4. Cochrane and Lampe (1953: 208) are prevented from falling into this confusion, not by their analytical scheme, which lumps together all factors acting to shift the supply curve to the left and expresses them as a simple function of time, but by their assumption that technological progress will occur at a suﬃciently rapid rate to permit aggregate inputs to remain unchanged or even decline.