Joan Robinson's growth model
Joan Robinson's Growth Model is a simple model of economic growth, reflecting the working of a pure capitalist economy, expounded by Joan Robinson in her 1956 book "The Accumulation of Capital". However, "The Accumulation of Capital" was a terse book. In a later book, "Essays in the theory of Economic Growth", she tried to lower the degree of abstraction. Robinson presented her growth model in verbal terms. A mathematical formalization was later provided by Kenneth K. Kurihara. Assumptions: The model. The entrepreneurs’ total profit and the workers’ total wage bill constitute the net national  income. It can be mathematically expressed as formula_1 where "Y" is the net national income, "w" is the money wage rate, "N" is the number of workers employed, "K" is the amount of capital utilized, "p" is the average price of output as well as of capital and "π" is the gross profit rate.The above equation indicates that the profit rate is a functional of labour productivity (p)and real wage rate(w/p)and capital ratio. Further reading. <nowiki>https://www.jstor.org/stable/40400250</nowiki>