SFB 303 Discussion Paper No. B - 71

Author: Krelle, Wilhelm
Title: v. Thünen-Vorlesung
Verein für Sozialpolitik
Abstract: The von Thünen-lecture deals first with Thünen's idea of a "natural wage rate", different from the marginal product of labor. It is shown that this "natural rate" may be interpreted as a guide line for redistribution of income. "Equity" in redistribution as well as in other fields of economics cannot be defined once and forever.This concept is subject to the "Zeitgeist" and changes with it. Examples are given for it. Part of the "Zeitgeist" is the degree of activity in a population, a latent variable. It is extracted from indicators, and it is shown that it has a sinosodial shape. This would explain the long-term Kondratieff waves.
Creation-Date: September 1986
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