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  • Endogenous growth theory

    The model works on the property of absence of diminishing returns to capital. The simplest form of production function with diminishing return is: figure 1.1 where , is a positive constant that reflects the level of the technology. capital (broad sense to include human capital) , output per capita and...
    Posted to Political Theory (Forum) by Austrian_Perspective on Fri, Jun 1 2012
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