1953
DOI: 10.2307/2296002
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The Production Function and the Theory of Capital

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Cited by 648 publications
(118 citation statements)
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“…49 So, the recent 21st Century approaches in biophysical economics focused on analyses and establishing mathematical models. [50][51][52][53][54][55][56][57][58][59][60][61][62][63][64][65] More recently, with regard to the information oriented lifestyles of today, Szilard argued about the interdependence of information, time, and energy, and their 16-) Georgescu-Roegen: Ø suggested the 4th Law of Thermodynamics or Law of Matter . Entropy, dealing with degradation of the organizational state of matter \Ø"sign indicates separate distinct highlights on the views of the selected scholars.…”
Section: The Biophysical Economics' Historical Presentationmentioning
confidence: 99%
“…49 So, the recent 21st Century approaches in biophysical economics focused on analyses and establishing mathematical models. [50][51][52][53][54][55][56][57][58][59][60][61][62][63][64][65] More recently, with regard to the information oriented lifestyles of today, Szilard argued about the interdependence of information, time, and energy, and their 16-) Georgescu-Roegen: Ø suggested the 4th Law of Thermodynamics or Law of Matter . Entropy, dealing with degradation of the organizational state of matter \Ø"sign indicates separate distinct highlights on the views of the selected scholars.…”
Section: The Biophysical Economics' Historical Presentationmentioning
confidence: 99%
“…Several aspects of the neoclassical theory, including the problem of aggregation, were discussed in "the two Cambridges debate" of the 1950s and 1960s (see e.g., [17,18]). Emerging from Cambridge in England is the neo-Ricardian school of thought which is essentially a modern interpretation of the classical value theory presented by Piero Sraffa in Production of Commodities by Means of Commodities [19].…”
Section: Value Theoriesmentioning
confidence: 99%
“…The inappropriateness of adding up different kinds of real capital into a single quantity has been widely discussed [17,59], pointing out that there is no common property of heterogeneous capital other than the monetary value. Hence a physical interpretation of aggregate capital is not possible, and the same would be true of aggregate economic output.…”
Section: An Accounting Identitymentioning
confidence: 99%
“…Production function comprising the measurable variable H takes into account the criticism of the econometric modeling of production as expressed by J. Robinson [28], who wrote the following critical opinion: "... The production function has been a powerful instrument of miseducation.…”
Section: Laborism and A Suitable Model Of The Production Functionmentioning
confidence: 99%