Arguably therefore, the production functions used in economic theory—whether spouted by mainstream Neoclassical or non-orthodox Post Keynesians—deserve to “collapse in deepest humiliation”.

The state-contingent properties of the most frequently used representations of stochastic production in the agricultural-economics literature are examined. Particular attention is paid to the cases of ...

Franklin M. Fisher, Aggregate Production Functions Revisited: The Mobility of Capital and the Rigidity of Thought, The Review of Economic Studies, Vol. 49, No. 4 (Oct., 1982), pp. 615-626 ...