Download This PaperGoing Back to the Capital Controversies: How to Forget the Problems of Economic Theory (Retorno a las Controversias del Capital: De cómo Olvidar los Problemas de la Teoría Económica) (Spanish)
Universidad Nacional de Colombia Escuela de Economia Working Paper No. 1
22 Pages Posted: 16 Dec 2009
Date Written: December 15, 2009
Abstract
This article highlights the significance of the critique against the aggregate production function within the neoclassical theories of growth and distribution. It looks for reasons to explain its continual use in practice and in the scholarly domain. The marginal productivity theory of distribution is presented; its main problem is thought to be located in its theory of capital. The critique of this theory is exposed, as well as the arguments that were used to defend it and the historical events that allowed it to succeed in practice.
Note: Downloadable document is in Spanish.
Keywords: Theory of distribution, theory of capital, subrogate production function, measures of capital, organic composition of capital, reswitching
JEL Classification: B10, B41, D24
Suggested Citation: Suggested Citation
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