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22대 대한민국 국회 국회정보길라잡이 국회의원검색
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Title page 1

Contents 1

Abstract 3

1. Introduction 4

2. Static model 7

3. Equilibrium determination 10

3.1. Type I equilibrium 10

3.2. Type II equilibrium 11

3.3. Equilibria: Existence, type and multiplicity 12

4. Comparing equilibria 14

5. Comparative statics 17

6. Aggregate welfare 19

7. Dynamics: Skill acquisition and the collapse of the educated class 22

7.1. Steady states 26

7.2. Surges and collapses 27

7.3. Dynamics following a surge 27

7.4. Dynamics following a collapse 28

8. Conclusion 29

9. Appendix 30

References 53

Tables 56

Table 1. Comparison between the two equilibria in the example of figure 16

Figures 56

Figure 1. Multiple equilibria 56

초록보기

We analyze the importance of the educated class for the persistence of mass consumption societies in an economy with a hierarchy of needs. Through the demand for managerial talent (which is needed to operate advanced industrial technologies), the latter generate their own demand for skills. In turn, high wages for skilled labor raise the demand for a broad range of industrial products. Thus, mass consumption society is self-sustaining but may also collapse.

An increase in the managerial labor requirement, while a form of technical regress, may sustain a high skilled wage, high industrialization equilibrium. In the dynamic analysis, a collapse of mass consumption society may be triggered after the economy has accumulated a critically high level of human capital. Following a collapse, the educated class disappears but gradually recovers as its own scarcity ignites a positive feedback loop between the demand for skills and the income of skilled workers. But collapses may happen again, and the economy may experience cycles.

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