The Economic Surplus: Theory, Measurement, Applications

By Anders Danielson | Go to book overview

If this assumption for some reason appears implausible, the reader is advised to concentrate on the period 1969-84: here, the statistical series are complete.

The estimates in the tables are made by using data from the National Income and Product Accounts for the period 1969-84; for the period 1962-68 data from the Annual Abstract of Statistics is used in most cases. Data on sectoral wage payments for 1962-69 can be found in National Income and Product, 1970; for 1970-73 in National Income and Product, 1981, and for 1974-84 in National Income and Product, 1984. These data have been complemented by data from the following sources: Jamaika: Länderkurzberichte, 1973, Wiesbaden, FRG: Statistische Bundesamt, pp.17-18 (employment); Statistical Abstract, 1974-82, Section II, Kingston: Statistical Institute (employment); International Financial Statistics, Yearbook, 1986, Washington, DC: International Monetary Fund, pp. 416-417 (gross investment and implicit GDP deflator); Report on the Labour Force, 1972, Kingston: Department of Statistics, 1973 (employment); Consumer Price Indices, various issues, Kingston: Statistical Institute (price indices).

Finally, all data on agricultural magnitudes have been deflated to urban price levels using price indices in the mentioned Consumer Price Indices.


NOTES
1.
For additional details, see Danielson ( 1993, Chs. 4-6).
2.
Wyn Owen ( 1966) notes that the agricultural sector is exposed to a "double developmental squeeze" during socialist as well as during capitalist development. The squeeze, which is a combination of income redistribution and production transfer, is-- during socialist development--attained by using various extraction methods, such as taxes, fees and outright confiscation. Capitalist development has, according to Owen, displayed a similar pattern, since the combination of competition and rapid technical change in agriculture implies, first, continuous resource reallocation away from agriculture and, second, deteriorating terms of trade for agriculture. A further discussion of Owen's ideas can be found in Chapter 4.
3.
Lewis ( 1944) is a critique of the Economic Policy Committee's plan; Lewis ( 1950a) and ( 1950b) are, respectively, an analysis of the Puerto Rican experience and an analysis of the prospects for industrialisation in the British West Indies. Further details are provided by Jefferson ( 1971).
4.
That is, that self-sustained growth requires an increase of the savings ratio from below 5 percent to over 10 percent.
5.
Due to lack of reliable data for many poor countries, available estimates of savings functions are of varying quality. See, however, Mikesell and Zinser ( 1973) who survey the available material and find the marginal propensity to save to be positive in most cases. A word of warning is issued by Snyder ( 1974, 140) according to whom the average propensity to save "is particularly erratic in developing countries, many of

-79-

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The Economic Surplus: Theory, Measurement, Applications
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Figure and Tables ix
  • Acknowledgments xi
  • I - Introduction 1
  • 1: Surplus and Economic Development 3
  • II - Theory and Measurement 11
  • 2 - The Role of Surplus in Classical Political Economy 13
  • Notes 27
  • 3 - Making Surplus Visible: A National Accounts Approach 29
  • Notes 43
  • 4 - Accumulation and the Agricultural Surplus 47
  • Notes 61
  • III - An Application: Jamaica under Manley 63
  • 5 - Size and Distribution of the Surplus 65
  • APPENDIX TO CHAPTER 5: SOURCES AND QUALITY OF DATA 78
  • APPENDIX TO CHAPTER 5: SOURCES AND QUALITY OF DATA 79
  • Mechanisms of Stagnation 81
  • APPENDIX TO CHAPTER 6: SURPLUS ACROSS COUNTRIES AND OVER TIME 92
  • 7 - The Role of Interest Groups 101
  • Notes 123
  • IV - Concluding Observations 127
  • 8: Is Surplus Obsolete? 129
  • References 137
  • Index 147
  • About the Author 153
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