The equilibrium conditions for an economic system that produces output with several factors of production and which is subject to technological constraints are derived. Optimization of either output minus cost or integrated utility yields the conditions that output elasticities must be equal to...

The cost-share theorem and the related equilibrium structure of neoclassical economics are not consistent with thermodynamics and the process nature of energy conversion in wealth creation and technological evolution. In industrial economies energy's output elasticity is typically much larger...

Productivity, Efficiency, Environment, Dimensionality. - The economic and ecological performance of OECD countries over two decades is measured by employing a Malmquist-Luenberger productivity index. The index credits the expansion of goods (value added) and the contraction of bads (emissions),...

The paper derives production functions designed to model the evolution of service industries. The derivation is based on specifying the output elasticities of the factors according to differential equations and asymptotic technological boundary conditions in factor space. The derived functional...

The economic and ecological performance of OECD countries over two decades is measured by employing a Malmquist-Luenberger productivity index. The index credits the expansion of goods (value added) and the contraction of bads (emissions), at given inputs. We consider the inputs of capital,...