Some Problems of Definition and Measurement of Capital.

£200 · Offered by Maggs Bros Ltd

The first separate appearance of this paper criticising the neoclassical assumption of the existence of an aggregate capital stock, originally read to an Anglo-French Colloquium on the Theory of Economic Growth held in Paris in December 1958, published here with minor alterations. The paper marked the continuation of 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.

• Year: 1959

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