News

We examine inconsistencies and controversies related to the use of CES production functions in growth models. First, we show that not all variants of CES functions commonly used are consistently ...
D. Hamberg, Production Functions, Innovations, and Economic Growth, Journal of Political Economy, Vol. 67, No. 3 (Jun., 1959), pp. 238-245 ...
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”.