Background
Eltis, Walter Alfred was born on May 23, 1933 in Warnsdorf, Czechoslovakia. Arrived in England, 1939. Son of Martin and Mary (Schnitzer) Eltis.
( Walter Eltis's classic account of the theories of growt...)
Walter Eltis's classic account of the theories of growth and distribution of François Quesnay, Adam Smith, Robert Malthus, David Ricardo, and Karl Marx is reprinted with a substantial new Introduction setting the work in a broader context. He restates their individual contributions rigorously with extensive references to the original texts. He shows how each developed the work of his predecessors to produce a coherent and distinctive classical theory of growth.
http://www.amazon.com/gp/product/033391998X/?tag=2022091-20
economist British government official
Eltis, Walter Alfred was born on May 23, 1933 in Warnsdorf, Czechoslovakia. Arrived in England, 1939. Son of Martin and Mary (Schnitzer) Eltis.
Master of Arts, Oxford University, 1960. Doctor of Letters, Oxford University, 1990.
University lecturer economics Oxford (England) University, 1963-1988, fellow, tutor in economics Exeter College, 1963-1988, emeritus fellow, since 1988. Economic director National Economic Development Office, London, 1986-1988, director general, 1988-1992. Chief economic advisor President of the Board of Trade, 1992-1995.
Economics consultant Rowe and Pitman, London, 1976-1986. United Kingdom consultant Bank Credit Analyst, Montreal, Quebec, Canada, 1982-1988, 95—. Visiting professor economics University Reading, since 1993.
( Walter Eltis's classic account of the theories of growt...)
( This book is concerned with the theory of economic grow...)
The first publications are concerned with the relationship between the nature of capital equipment, accumulation and income distribution. This culminates in Growth and Distribution in which a model is developed where the rate of profit, the share of investment and the rate of economic growth are simultaneously determined by an investment function, a production function and a technical progress function. The latter has the characteristic (unlike Kaldor’s and Arrow’s) that a higher share of investment is associated with faster steady-state technical progress and economic growth.
The model has several classical features including a close interconnection between profits, capital accumulation and technical
progress. The later publications are specifically classical. The theories of economic growth and income distribution of Quesnay, Smith, Malthus, Ricardo and Marx are restated in modern terms, using their original assumptions and arriving at their own principal conclusions.
This culminates in The Classical Theory of Economic Growth. In Britain"s Economic Problem a modern growth model is derived from Smith and Quesnay to help explain some of the economic difficulties of the United Kingdom (and other economies which have suffered similar trends) in the 1960s and 1970s. Investment and exports must originate from the economy’s surplus-producing market sector, and if too high a fraction of its surplus of marketed output is diverted to the surplus-using sector where marketed output is consumed by those who produce none (mainly in the public sector), too little will remain for job-creating investment in the market sector itself.
As a result, the employment it provides will decline, and in due course its output also, which will reduce the economy’s tax base. Financial collapse may ensue as the employment which the market sector can provide declines, while the welfare needs of the rest of the community which it is obliged to finance continuously increase.
Member council governors Wycliffe College, Stonehouse, Gloucester, England, 1973-1987. Member Council for National Academy Awards, London, 1987-1989. Member Reform Club (chairman 1994-1995).
Married Shelagh Mary Owen, September 5, l959. Children: David Alexander, Sarah Ann, Katherine, Clare.