chapter  VIII
8 Pages

A Simplified One-Product Model

It would be illuminating if we could express Figure 29 in the form used in Figures 12, 15, 17 and 20 in Chapter V, that is to say, in a way which would enable one to visualize the various interrelationships as they operate through time. Unfortunately the complete model in Figure 29 is much too complicated to be usefully treated in this way. In this chapter we will greatly simplify the model shown in Figure 29. This we will do for two reasons. First, it will enable us to show it in the alternative form which brings out the movement of the variables through time. Secondly, it will enable us to show the simplest dynamic form of the one-product economic model presented in Part I of The Growing Economy.