Who among the following economists developed the Reinvestment-Criterion ?
The marginal per capita reinvestment criterion was developed by Walter Galenson and Harvey Leibenstein (1955). It favours investments that yield the largest surplus for…
Choose your answer
Who among the following economists developed the Reinvestment-Criterion ?
Answer and explanation
Correct answer A
The marginal per capita reinvestment criterion was developed by Walter Galenson and Harvey Leibenstein (1955). It favours investments that yield the largest surplus for reinvestment per head, which pushes towards capital-intensive techniques and faster future growth. A. K. Sen and Maurice Dobb wrote on the choice of techniques and supported a similar emphasis on the investible surplus, but the criterion itself is Galenson and Leibenstein's.
Practice for these exams
-
UGC NET Economics