ABSTRACT
This paper is the result of many extended discussions with Alfred Eichner while he chaired the committee overseeing my master's thesis. At the time, Eichner was in the process of writing a textbook on macrodynamics. He provided drafts of this effort to students in his various courses. Within the chapter on growth, he presented a series of propositions which he claimed constituted the necessary conditions for an acceleration of the (long-run, secular) rate of growth. One claim maintained that such an acceleration required a sacrifice of (household) consumption. This did not sit well with me and thus ensued our discussions. Eventually, my thesis took up the nearly identical claim that accelerations of the growth rate required a fall in the real wages to labor. In particular, I modeled a Post Keynesian growth theory so as to permit a theoretical deduction of the claim. I then proceeded to critique the same model with particular reference to Keynes's work of 1936. Thus, what follows is a condensed version of that effort—in deepest gratitude for his time, encouragement, and confidence in me.
