On Harrod Neutral Technical Change. Uzawa Revisited
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🧮 math.OC
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harrodneutraltechnicaluzawaaugmentingchangeclassicconsistent
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We provide a two line proof of the theorem of Uzawa (1961) that in the classic Solow/Swan growth model, only Harrod neutral (labor augmenting) technical progress is consistent with an equilibrium steady state
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