Irmen, Andreas; Maußner, Alfred - 2014 - This Version: November 28, 2014
The Inada (1963) conditions constitute a defining property of the neoclassical production function with capital and … characterization of the neoclassical production function that altogether dispenses with the Inada conditions. Moreover, we establish … intuitive appeal of the latter feature, we conclude that the neoclassical growth model is a theory of eventual stagnation. …