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1 Solow Growth Model - Corporate Finance Institute
https://corporatefinanceinstitute.com/resources/economics/solow-growth-model/
The Solow Growth Model is an exogenous model of economic growth ... I) are linked through the capital accumulation equation K'= K(1-d) + I.
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2 Macroeconomics Solow Growth Model
https://www.albany.edu/~bd445/Economics_301_Intermediate_Macroeconomics_Slides_Spring_2014/Solow_Growth_Model.pdf
The Solow growth model focuses on long-run economic growth. ... depends on capital and labor does not change as time passes.
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3 Capital Accumulation - an overview | ScienceDirect Topics
https://www.sciencedirect.com/topics/social-sciences/capital-accumulation
Physical capital accumulation was central, as codified by the Harrod–Domar dynamic equilibrium condition, which in the simplest case is that the rate of growth ...
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4 Capital Accumulation: Definition and How To Measure
https://www.investopedia.com/terms/c/capitalaccumulation.asp
Capital accumulation is the growth in wealth through investments or profits. Means to grow wealth can include appreciation, rent, capital gains, and interest.
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5 Economists understand little about the causes of growth
https://www.economist.com/finance-and-economics/2018/04/12/economists-understand-little-about-the-causes-of-growth
Robert Lucas, a Nobel prizewinning economist, once wrote that after ... on the idea that growth is a consequence of capital accumulation.
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6 ECONOMIC GROWTH and CAPITAL ACCUMULATION
https://www.csus.edu/indiv/o/onure/econ200a/readings/swan.pdf
... the connexion between capital accumulation and the growth of the productive labour force. ... I n a given state of the arts, the annual output Y depends.
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7 Capital Accumulation and Growth - CiteSeerX
https://citeseerx.ist.psu.edu/document?repid=rep1&type=pdf&doi=703f8ac1705bb47b8975c3e71d0bc46f06e6ca32
Results are reported in Table 1B. For the log of the investment share we can reject the null hypothesis of non-stationarity if we rely on the version of the ...
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8 Lesson summary: Economic growth - Khan Academy
https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-long-run-consequences-of-stabilization-policies/economic-growth/a/lesson-summary-economic-growth
The stock of capital per worker: All else equal an economy with more physical capital can produce more than an economy with less physical capital. Because ...
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9 A Contribution to the Empirics of Economic Growth
https://eml.berkeley.edu/~dromer/papers/MRW_QJE1992.pdf
This equation shows how income per capita depends on population growth and accumulation of physical and human capital. Like the textbook Solow model, ...
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10 ON THE MECHANICS OF ECONOMIC DEVELOPMENT ...
https://www.parisschoolofeconomics.eu/docs/darcillon-thibault/lucasmechanicseconomicgrowth.pdf
ing. and a model emphasizing specialized human capital accumulation through ... 0.024 for K + X, depending on whether we use output or capital growth rates.
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11 CAPITAL ACCUMULATION AND ECONOMIC GROWTH 1• z
http://gesd.free.fr/kaldor61.pdf
Since we cannot say that the rate of capital accumulation depends on the community's propensity to save (since the latter is a dependent variable, depending on ...
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12 A Contribution to the Theory of Economic Growth - JSTOR
https://www.jstor.org/stable/1884513
Many economic historians, like most economists, depend on standard growth ... Theory of Economic Development argued that net capital accumulation.
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13 Topic 1: The Solow Model of Economic Growth
https://www.tcd.ie/Economics/staff/whelanka/topic1.pdf
Capital accumulates according to. ˙. Kt = Yt − Ct − δKt. (3). In other words, the addition to the capital stock each period depends positively on.
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14 1 Diagnosing Human Capital as a Binding Constraint to Growth
https://growthlab.cid.harvard.edu/files/growthlab/files/diagnosing_human_capital_as_a_binding_constraint_to_growth_excerpt.pdf
The first is the development of fundamental capabilities in the form of human capital and institutions. Long-term growth ultimately depends on the accumulation ...
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15 What Drives Long-Run Economic Growth?
https://www.stlouisfed.org/on-the-economy/2015/june/what-drives-long-run-economic-growth
Holding other input factors constant, the additional output obtained when adding one extra unit input of capital or labor will eventually ...
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16 Advanced Macroeconomics 9. The Solow Model - Karl Whelan
https://www.karlwhelan.com/Macro2/slides-9.pdf
The model was developed by Robert Solow, whose work on growth accounting ... Assume a production function in which output depends upon capital and.
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17 Adam Smith on growth and credit – Too weak a connection?
https://www.emerald.com/insight/content/doi/10.1108/01443589910302092/full/html
The attention given to capital accumulation and agricultural development might easily lead one to think that Smith presented two distinct growth theories in the ...
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18 Economics of Development: (3) Capital Accumulation - YouTube
https://www.youtube.com/watch?v=FRahEYo7zJw
Mar 4, 2019
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19 Adam Smith - Economic growth | Britannica
https://www.britannica.com/biography/Adam-Smith/Economic-growth
But this all-important division of labour does not take place unaided. It can occur only after the prior accumulation of capital (or stock, as Smith calls it), ...
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20 Capital accumulation and economic growth; 1962
https://www.fep.up.pt/docentes/joao/material/macro2/Kaldor_1961.pdf
In dealing with capital accumulation and economic growth, we are only too apt to begin by assuming a 'given state of knowledge'. (that is to say, absence of ...
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21 Not Enough Shovels? The Crucial Role of Future Capital ...
https://budgetmodel.wharton.upenn.edu/issues/2016/1/7/not-enough-shovels-the-crucial-role-of-future-capital-accumulation-for-us-output-growth
Growth in physical capital per worker has contributed the most to U.S. productivity growth. * U.S. capital accumulation is increasingly ...
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22 Economic Issues 1 -- Growth in East Asia
https://www.imf.org/external/pubs/ft/issues1/
In a famous study, Solow (1956) conducted a growth accounting exercise such as the one described above. He found that accumulation of capital and an ...
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23 Capital, innovation, and growth accounting - Brown University
https://www.brown.edu/Departments/Economics/Faculty/Peter_Howitt/publication/Solow%20volume.pdf
the effects of capital accumulation and technological progress, both of which can raise output per worker. To see this, suppose that output depends on ...
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24 What is endogenous growth theory? | World Economic Forum
https://www.weforum.org/agenda/2015/06/what-is-endogenous-growth-theory/
Economist Paul Romer has developed a theory of economic growth with “endogenous” technological change — that is, it can depend on population ...
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25 Explaining Economic Growth: Factor Accumulation, Total ...
http://smiller.faculty.unlv.edu/EFFICIENCY_PRODUCTIVITY_PAPER.pdf
In addition, this paper incorporates the quality of inputs in analyzing output growth, where the productivity of capital depends on its average age, while the.
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26 Reading: Components of Economic Growth | Macroeconomics
https://courses.lumenlearning.com/suny-macroeconomics/chapter/components-of-economic-growth/
Human capital and physical capital accumulation are similar: In both cases, investment now pays off in longer-term productivity in the future.
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27 What the Data Says About Capital Accumulation, Inequality ...
https://www.york.ac.uk/media/economics/documents/seminars/chambers_paper.pdf
on economic growth depends critically upon the level of physical capital accumulation (see Kaldor (1957) among others).
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28 The contribution of education to economic growth - GOV.UK
https://assets.publishing.service.gov.uk/media/5b9b87f340f0b67896977bae/K4D_HDR_The_Contribution_of_Education_to_Economic_Growth_Final.pdf
As the returns to physical capital accumulation diminish, the rate of productivity improvement and technological innovations depend largely on the presence of ...
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29 3 GROWTH AND CAPITAL ACCUMULATION:THE SOLOW ...
https://www.reed.edu/economics/parker/s11/314/book/Ch03.pdf
In words, this equation says that output per unit of effective labor depends only on the amount of capital per effective unit of labor. (If we ignore the ...
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30 Introduction to "Capital Formation and Economic Growth"
https://www.nber.org/system/files/chapters/c1302/c1302.pdf
sources are actually committed to the production of capital goods. The volume of capital formation depends on the intensity and.
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31 Technological Progress and Economic Growth | Economics
https://www.economicsdiscussion.net/economic-growth/technological-progress-and-economic-growth-economics/30156
For capital accumulation without technical progress can bring about growth in income per head only so long as the available labour force has not been fully ...
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32 What Drives Productivity Growth?
https://www.newyorkfed.org/medialibrary/media/research/epr/01v07n1/0103stir.pdf
accumulation drives growth in the short run, but capital ... private inputs, but the level of technology, , varies, depending.
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33 Natural resource dependence, public education investment ...
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6105243/
Economic growth depends on physical capital, human capital, technology, and other factors. In modern economies, human capital and technology are ...
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34 The Facts of Economic Growth - Stanford University
https://web.stanford.edu/~chadj/facts.pdf
From this perspective—say for the last 200,000 years ... accumulation of physical capital is caused by growth in total factor productivity (eg, as in.
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35 The Role of Population in Economic Growth - SAGE Journals
https://journals.sagepub.com/doi/full/10.1177/2158244017736094
He argues that when the rate of return to capital is greater than the economic growth rate (r > g in his notation), the likely result will be concentration in ...
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36 From Physical to Human Capital Accumulation: Inequality and ...
http://piketty.pse.ens.fr/files/GalorMoavRES2004.pdf
inequality on growth depends on the relative return to human and physical capital. Inequality is beneficial for economic growth in economies in which the ...
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37 ECO501 DEVELOPMENT ECONOMICS
https://rgu.ac.in/wp-content/uploads/2021/02/Download_577.pdf
increase in per capita income say from point S to L, the rate of growth of ... According to Ricardo, economic growth depends on capital accumulation.
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38 Education and Economic Growth Robert J. Barro1 ... - OECD
https://www.oecd.org/innovation/research/1825455.pdf
model, the diminishing returns to the accumulation of capital imply that an economy's ... The findings on economic growth reported in Barro (1997) provide ...
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39 Growth as an objective of economic policy in the early 1960s
https://www.cairn.info/revue-cahiers-d-economie-politique-1-2014-2-page-175.htm
Even the “Golden Rule of Accumulation” by Phelps [1961] as an important contemporary contribution to growth theory on how to achieve maximum consumption was ...
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40 W. Arthur Lewis: Pioneer of Development Economics
https://www.un.org/en/chronicle/article/w-arthur-lewis-pioneer-development-economics
W. Arthur Lewis' best-known contribution to development economics was his path-breaking work on the transfer of labour from a traditional to a modern capitalist ...
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41 Accumulation Regimes - Archive ouverte HAL
https://hal.archives-ouvertes.fr/hal-01719977/document
The classical economists and Marx consider capital accumulation as the central ... considers international trade to be a transient back-up growth engine, ...
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42 The Republic of Korea's Economic Growth and Catch-Up
https://www.adb.org/sites/default/files/publication/183353/adbi-wp571.pdf
and human capital accumulation, which are encouraged by higher rates of return on ... The dependent variables are the growth rates of per worker GDP.
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43 Economic development in resource-rich, labor-abundant ...
https://blogs.worldbank.org/developmenttalk/economic-development-in-resource-rich-labor-abundant-economies
In my view, achieving sustainable and inclusive growth depends on a ... This occurs when an economy's capital accumulates and its ...
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44 Economic Development with Unlimited Supplies of Labour
https://la.utexas.edu/users/hcleaver/368/368lewistable.pdf
capital accumulation, which they explained in terms of their analysis of the ... In the first place, an unlimited supply of labour may be said to exist in ...
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45 Social Security, Saving, and Capital Formation
https://www.ssa.gov/policy/docs/ssb/v38n7/v38n7p3.pdf
In the aggregate, saving will be positive and a constant ratio of aggregate income.12 The saving ratio will depend upon the rate of economic growth. SOCIAL ...
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46 Robert J. Barro - Human capital and growth in cross-country ...
https://www.government.se/contentassets/8e643e6e816841cf8b619be7d4dd3baa/robert-j.-barro-human-capital-and-growth-in-cross-country-regression
ences in economic growth rates and investment. Human-capital accumulation is an important part of the develop- ment process, and this accumulation is ...
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47 Economic Growth and the Business Cycle - Every CRS Report
https://www.everycrsreport.com/reports/RL34072.html
Long-term growth is caused by increases in labor, capital, and productivity. Policy changes in the areas of education, taxation, competition, ...
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48 Economic Growth and the Financial Economics of Capital ...
https://www.researchgate.net/publication/23744784_Economic_Growth_and_the_Financial_Economics_of_Capital_Accumulation_under_Shifting_Technological_Change
PDF | This paper develops a simple and practical framework for characterizing (long-run) economic growth and fluid capital accumulation ...
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49 implications of new trade and endogenous growth theories for ...
https://unctad.org/en/docs/dp_122.en.pdf
interpret technological innovation and human-capital accumulation as being the ... In these models, growth depends on the incentives to invest in improving.
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50 capital-accumulation-savings-and-economic-growth-of-a ...
https://www.walshmedicalmedia.com/open-access/capital-accumulation-savings-and-economic-growth-of-a-nation--evidence-from-nigeria.pdf
The extent to which the level of savings can affect capital accumulation and growth largely depends on the capacity of the economy to channel the savings ...
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51 Inequality, Human Capital Formation and the Process of ...
https://ftp.iza.org/dp6328.pdf
inequality, human capital, growth, development, credit market imperfections ... of investment in human capital for a member of generation t depends on.
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52 Are natural resources a curse, a blessing, or a double-edged ...
https://www.brookings.edu/blog/future-development/2020/07/16/are-natural-resources-a-curse-a-blessing-or-a-double-edged-sword/
With many countries still highly dependent on volatile resource rents, ... human capital accumulation, tertiary school enrollment, ...
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53 The impact of savings on economic growth in a developing ...
https://innovation-entrepreneurship.springeropen.com/articles/10.1186/s13731-020-00140-6
Countries with higher rates of savings have had a faster economic growth than those with lower saving rates. Capital accumulation creates ...
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54 Theories of Growth | Oxford
https://academic.oup.com/book/12139/chapter/161541583
If growth depends primarily upon the growth of human capital, there is a strong case for ... capital accumulation, and demand growth all need to be rapid.
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55 James Tobin and Growth Theory: Financial Factors and Long ...
https://home.uchicago.edu/sdurlauf/includes/pdf/Dimand%20Durlauf%20-%20Tobin.pdf
capital formation in a monetary economy (see also Haliassos and Tobin ... of the steady state depend on the rate of monetary growth. . . . The study.
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56 the sentiments of adam smith relating to economic growth as ...
https://dergipark.org.tr/tr/download/article-file/321449
According to the classical economists, economic growth depends on ... surplus, and savings depicts process of growth by capital accumulation.
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57 The contribution of international trade to economic growth ...
https://www.tandfonline.com/doi/full/10.1080/23322039.2014.947000
His model suggests that human capital accumulation on-the-job training (learning-by-doing) is associated with the type of goods produced in an economy. The type ...
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58 The Lucas Growth Model - JHU Economics
http://www.econ2.jhu.edu/people/ccarroll/Public/LectureNotes/Growth/LucasGrowth.pdf
Mankiw (1995) has persuasively argued for ... growth model, human capital accumulation cannot be the source of ... This is because the effect depends.
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59 Capital Accumulation in a Model of Growth and Creative ...
https://www.minneapolisfed.org/research/dp/dp139.pdf
cess (arrival rate) depends on the amount of resources allocated to R&D. In addition, capital accumulation and the consumption and investment decision.
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60 Chapter:Capital Formation and Economic Growth
https://www.nap.edu/read/1767/chapter/4
For example, Jorgenson, Gollop, and Fraumeni (1987, p. 21) found that between 1948 and 1979, capital formation accounted for 46 percent of the economic growth ...
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61 Multiple choice questions - Kansas State University
https://www.k-state.edu/economics/nafwayne/Study%20Guide%20Dev_%20Econ%20Mohan.doc
Yet the major sources for this rapid growth, increased capital formation and ... On what did the Russian-Soviet development model of growth not depend?
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62 The link between trust and economic prosperity - Deloitte
https://www2.deloitte.com/us/en/insights/economy/connecting-trust-and-economic-growth.html
This article explores the link between trust and economic growth. ... human capital accumulation, organizational improvements, ...
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63 The Wealth of Nations - Adam Smith Institute
https://www.adamsmith.org/the-wealth-of-nations
The accumulation of capital ... Smith goes on to say that building up capital is an essential condition for economic progress. By saving some of what we produce ...
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64 6.4 Balanced Growth
https://saylordotorg.github.io/text_macroeconomics-theory-through-applications/s10-04-balanced-growth.html
We have seen that the accumulation of capital—other things being equal—leads economies to converge over time. However, we saw that the evidence for such ...
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65 Dilution effects, population growth and economic ... - EconStor
https://www.econstor.eu/bitstream/10419/175350/1/1013757718.pdf
population growth and economic growth under human capital accumulation and ... growth depending on the specific way it affects the process of schooling- ...
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66 Technological Innovation and Economic Growth: A Brief ...
https://www.mercatus.org/system/files/broughel-technological-innovation-mercatus-research-v1.pdf
historians have said about the importance of technological innovation for eco- nomic growth ... Nicholas Kaldor, “Capital Accumulation and Economic Growth,”.
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67 Capital Accumulation with Interdependent Countries
https://benjaminmoll.com/wp-content/uploads/2019/07/interdep.pdf
In contrast to stability results for n-sector growth models, the conditions guaranteeing local stability do not depend on the discount rate.
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68 Human Capital Development and Economic Growth in ...
https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3305421_code2733842.pdf?abstractid=3305421
propagated by human capital formation, investment and retention in the Ghana economy. ... Economic growth depends on the amount of labour and capital.
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69 How does foreign direct investment affect economic growth?
https://olemiss.edu/courses/inst310/BorenszteinDeGLee98.pdf
international trade and human capital accumulation as determinants of economic growth.! Page 3. E. Borensztein et al. / Journal of International Economics 45 ( ...
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70 How Much Investment Is Optimal?
https://carnegieendowment.org/chinafinancialmarkets/52078
The level of fixed-capital formation does look unusually high, ... This is not to say that labor and capital inputs are not part of growth.
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71 Capital accumulation as a determinant of the rate of growth of ...
https://www.scielo.org.mx/pdf/cya/v63n3/0186-1042-cya-63-03-00005-en.pdf
In the first version, it is argued that, apart from the exports growth rate, the rate of capital accumulation and the capital productivity growth rate determine ...
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72 Human capital accumulation, long-run GDP growth and ...
https://www.cepremap.fr/depot/docweb/docweb2106.pdf
of human capital accumulation on economic growth tend to increase with ... where per capita GDP growth is now the dependent variable, each estimated ...
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73 Does Capitalism Require Endless Growth?
https://thebreakthrough.org/journal/issue-6/does-capitalism-require-endless-growth
The Reverend Thomas Malthus claimed in the eighteenth century that a collision between the growing number of mouths to feed and the capacity to ...
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74 Answers -- Economic Growth
http://marshallinside.usc.edu/joines/549/exercises/answers_economic_growth.htm
The two countries have the same technology, saving rate, and population growth rate, so they will converge to the same ratio of capital per effective unit of ...
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75 Population Aging, Human Capital Accumulation, and ...
https://www.popcouncil.org/uploads/pdfs/2008_PDRSupp_PopAging.pdf
proponents argued that companies would react to population aging if they ... link between human capital accumulation and economic growth so far have.
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76 Inflation and economic growth: some evidence for the OECD ...
https://www.bis.org/publ/confp04p.pdf
Inflation reduces both capital accumulation and total factor productivity. ... a significant negative effect of inflation on growth is reported.
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77 Economic Growth and the Financial Economics of ... - EconWPA
https://econwpa.ub.uni-muenchen.de/econ-wp/ge/papers/0404/0404001.pdf
Keywords: economic growth and fluid capital accumulation, ... technical change to be exogenous such that long-run economic growth depends.
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78 Inequality and Growth: an Overview of the Theory
https://www12.senado.leg.br/publicacoes/estudos-legislativos/tipos-de-estudos/textos-para-discussao/td-131-inequality-and-growth-an-overview-of-the-theory
stated by Persson and Tabellini (1994, p.600) : Economic growth is largely determined by the accumulation of capital, human capital, and knowledge usable in ...
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79 Economic Growth and the Solow Model
https://www3.nd.edu/~esims1/solow_model.pdf
to, say, 30 years, about the gap between generations. ... Saving, which leads to more capital accumulation, cannot sustain growth. On its surface, the Solow ...
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80 Capital accumulation - Growth Study Guide
https://growthecon.com/StudyGuide/solow/capital.html
We need to know what this says about the growth rate of capital, ... the growth rate of the capital stock depends on the size of gross capital formation ...
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81 THEORIES OF ECONOMIC GROWTH
http://www.ebookbou.edu.bd/Books/Text/SOB/MBA/mba_4334/Unit-02.pdf
to saying that the division of labour depends in large part on the division of labour. ... with no capital accumulation and therefore no growth, also due to.
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82 The impact of human capital on economic growth: a review
https://www.cedefop.europa.eu/files/BgR3_Wilson.pdf
accumulation of knowledge though the under- ... reported in the section on economic growth ... contribution to growth of human capital depends.
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83 Economic growth and human capital accumulation - BCU
https://www.bcu.gub.uy/Comunicaciones/Jornadas%20de%20Economa/C2_Yapor2016.pdf
Substituting said value in (13) leads to obtaining c, the equilibrium value for the consumption path. Note that k depends on n, α, β, δ, f and g while c depends ...
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84 Investment as a Factor of Economic Growth
https://www.richtmann.org/journal/index.php/mjss/article/view/6871/6576
The great economists (A. Smith, D. Ricardo, J.-B. Say), who reviewed the ... savings, capital accumulation, investment and economic growth.
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85 Explaining Theories of Economic Growth
https://www.economicshelp.org/blog/57/growth/explaining-theories-of-economic-growth/
Mercantilism – Wealth of a nation determined by the accumulation of gold and running trade surplus · Classical theory – Adam Smith placed ...
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86 Classical Theory of Economic Growth - DiVA Portal
http://www.diva-portal.org/smash/get/diva2:562865/FULLTEXT01.pdf
Adam Smith said about the Physiocracy that “with all its ... In Smith´s theory, accumulation of capital would depend on the allocation of the output.
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87 1 The Introduction of Human Capital Theory into Education ...
http://econ.msu.edu/faculty/biddle/docs/Biddle-Holden%20draft%202.pdf
Using a phrase that would be quoted frequently in the ... If capital accumulation did not explain economic growth, what did? The Schmookler-.
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88 A study of the Relationship between Human Capital ...
https://www.researchsquare.com/article/rs-139365/v1.pdf
Accumulation and Economic Growth: A case of ... can say that the success of individuals depends on their higher level of competency in a ...
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89 Toomey Requests Proposals to Foster Economic Growth and ...
https://www.toomey.senate.gov/newsroom/press-releases/toomey-requests-proposals-to-foster-economic-growth-and-capital-formation
Expanded capital formation will help entrepreneurs bring new ideas to ... to investment opportunities,” said incoming Ranking Member Toomey.
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90 Will productivity and growth return after the COVID-19 crisis?
https://www.mckinsey.com/industries/public-and-social-sector/our-insights/will-productivity-and-growth-return-after-the-covid-19-crisis
The pandemic had a generally negative impact on short-term accumulation of physical capital. In the United States, total investment (gross fixed ...
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91 Leroy Almendarez -- Human Capital Theory
https://www.open.uwi.edu/sites/default/files/bnccde/belize/conference/papers2010/almendarez.html
The accumulation of human capital through education and on-the-job training fosters economic growth by improving labour productivity, promoting ...
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92 capital accumulation and growth — the solow model
https://web.econ.ku.dk/dalgaard/makro2_2008/Slides/lecture2_solow_full.pdf
(A) Can capital accumulation sustain economic growth in the long-run? ... On this basis we will say that the standard Solow model predicts condi-.
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93 Discovering the Sources of TFP Growth: Occupation Choice ...
http://repec.org/esNASM04/up.24481.1075493216.pdf
In this model, productivity depends on efficiency in allocation of the talent and the capital, both of which improve as the financial sector expands.
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94 Economic Growth I: Capital Accumulation and Population ...
http://ukm.my/azlan/kursus/eppe6024-sem1-1112/Mankiw-%20Growth%20theory.pdf
output depends on the capital stock and the labor force: Y = F(K, L). ... growth rate of income per person are said to have a growth effect; we will see.
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95 Edmund Phelps's Contributions to Macroeconomics
https://www.nobelprize.org/uploads/2018/06/advanced-economicsciences2006.pdf
Phelps pointed out that current inflation depends not only on unemployment but ... Modern theory of capital accumulation and economic growth ...
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96 Capital formation - definition and meaning
https://marketbusinessnews.com/financial-glossary/capital-formation/
American economist Simon Smith Kuznets (1901-1985) pioneered the concept of capital formation in the 1930s and 1940s. Kuznets was awarded the 1971 Nobel ...
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