ABSTRACT

While there have been recent advances in the modeling of endogenous technological change in neoclassical (include endogenous) growth models, Classical–Marxian models seems to have lagged behind. However, there are some exceptions to this, including Classical–Marxian contributions to technological change from Duncan Foley. This chapter reviews, and makes some additions to, the literature on endogenous technological change in Classical–Marxian models, by incorporating a number of alternative approaches to the analysis of technological change into a basic Classical–Marxian model with capitalists and workers. It shows that although this task is relatively easy, to get a comprehensive view of the interaction between growth, distribution and technological change, the models have to endogenize a number of parameters, including the labor share and capital productivity, and to introduce additional features not analyzed in the basic model, such as the role of high-skilled workers.