Income and Wealth Distribution in a Neoclassical Two-Sector Heterogeneous-Households Growth Model with Elastic Labor Supply and Consumer Durable Goods
This paper proposes a two-sector two-group growth model with elastic labor supply and consumer durable goods. We study dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. The model is built on the Uzawa two-sector model. It is also influenced by the neoclassical growth theory and the post-Keynesian theory of growth and distribution. We plot the motion of the economic system and determine the economic equilibrium. We carry out comparative dynamic analysis with regard to the propensity to save and improvements in human capital and technology.
The problem of sustainable development and the role of universities of resources, which is the scientific and educational base of the mining industry is discussed. Assessment of management effectiveness of national total capital leading mining countries in the OECD and BRICS is given. On the basis of the Hartwick-Solow criterion proposed investment areas of mineral rents in natural, produced and human capital. The main tasks of the universities resources for the sustainable development of countries with large reserves of mineral resources updated. DOI: 10.5901/mjss.2015.v6n2s4p157