The Production Function
The Production Function
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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