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Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth H. Uzawa The Journal of Political Economy, Vol. 77, No. 4, Part 2: Symposium on the Theory of Economic Growth. (Jul. - Aug., 1969), pp. 628-652. Stable URL: http://links.jstor.org/sici?sici=0022-3808%28196907%2F08%2977%3A4%3C628%3ATPATPE%3E2.0.CO%3B2-R The Journal of Political Economy is currently published by The University of Chicago Press. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/ucpress.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. The JSTOR Archive is a trusted digital repository providing for long-term preservation and access to leading academic journals and scholarly literature from around the world. The Archive is supported by libraries, scholarly societies, publishers, and foundations. It is an initiative of JSTOR, a not-for-profit organization with a mission to help the scholarly community take advantage of advances in technology. For more information regarding JSTOR, please contact [email protected]. http://www.jstor.org Wed Aug 1 12:58:05 2007

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Page 1: Time Preference and the Penrose Effect in a Two-Class ...pages.stern.nyu.edu/~dbackus/GE_asset_pricing... · Time Preference and the Penrose Effect in a Two-Class Model of Economic

Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth

H. Uzawa

The Journal of Political Economy, Vol. 77, No. 4, Part 2: Symposium on the Theory of EconomicGrowth. (Jul. - Aug., 1969), pp. 628-652.

Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28196907%2F08%2977%3A4%3C628%3ATPATPE%3E2.0.CO%3B2-R

The Journal of Political Economy is currently published by The University of Chicago Press.

Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available athttp://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtainedprior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content inthe JSTOR archive only for your personal, non-commercial use.

Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained athttp://www.jstor.org/journals/ucpress.html.

Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printedpage of such transmission.

The JSTOR Archive is a trusted digital repository providing for long-term preservation and access to leading academicjournals and scholarly literature from around the world. The Archive is supported by libraries, scholarly societies, publishers,and foundations. It is an initiative of JSTOR, a not-for-profit organization with a mission to help the scholarly community takeadvantage of advances in technology. For more information regarding JSTOR, please contact [email protected].

http://www.jstor.orgWed Aug 1 12:58:05 2007

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