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Production theory in the neoclassical tradition is strong on Abstract generality. Its high level of Abstraction tends to impede understanding of technological change, partly because its perspective on production differs so much from those of engineers, managers and technologists. A more grounded...
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Production theory in the neoclassical tradition is strong on Abstract generality. Its high level of Abstraction tends to impede understanding of technological change, partly because its perspective on production differs so much from those of engineers, managers and technologists. A more grounded...
Persistent link: https://www.econbiz.de/10010328459
Persistent link: https://www.econbiz.de/10003325160
In some economics textbooks production theory is developed axiomatically. The divisibility axiom presents a bold affront to realism. It distorts the static theory and forecloses some potential encounters with technological change. The article reviews propositions about geometrical scaling that...
Persistent link: https://www.econbiz.de/10012750184