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Capital and TimeA Neo-Austrian Theory$
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J. R. Hicks

Print publication date: 1987

Print ISBN-13: 9780198772866

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198772866.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 May 2021

The Production Function

The Production Function

(p.177) XV The Production Function
Capital and Time

John Hicks

Oxford University Press

This chapter discusses the production function. Product as a function of labour and capital applied — a function that is unchanged with given technology, but changes when technology changes. The chapter also addresses the question of whether there is anything left of that old classification of invention-bias introduced in 1932 — the ‘Hicks’ classification. It considers whether it can be brought into relation with the classification used in this book.

Keywords:   labour, capital, Hicks classification, invention-bias

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