Accumulation and the Production Function.

£250 · Offered by Maggs Bros Ltd

The first separate appearance of this article dating from the so-called Cambridge Capital Controversy regarding the production function and measurement of capital. The controversy stemmed from a 1953 article in which Robinson launched a scathing attack on the neoclassical concept of ‘production function’, eliciting a number of responses, most notably by the American Keynesian Robert M. Solow. The present article is somewhat of a companion piece to Robinson’s 1953 article, restating what she refers to as the ‘negative’ aspect of her critique and seeking to demonstrate how the neoclassical production function could be redeemed by the use of the Keynesian approach to savings and investment.

• Year: 1959

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