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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Reshma gupta
Mrs. Joan Robinson has given her model of growth in her classic book. ‘The Accumulation of Capital’ in 1956. Joan Robinson’s model clearly takes the problem of population growth in a developing economy and analyses the influence of population on the role of capital accumulation and growth of output. According to Mrs. Joan Robinson, national income is the sum of the total wage bill and total profit. Total wage bill is the real wage multiplied by the number of workers and total profits are equal to profit rate multiplied by the amount of capital.