Abstract
This paper reconsiders Anwar Shaikh's critique of the neoclassical theory of growth and distribution based on its use of aggregate production functions. This is done by reconstructing and extending Franklin M. Fisher's 1971 computer simulations, which Shaikh used to support his critique. Together with other recent extensions to Shaikh's seminal work, my results support and strengthen the evidence against the use of aggregate production functions.
| Original language | English |
|---|---|
| Place of Publication | Aalborg |
| Publisher | Centre for Comparative Welfare Studies, Institut for Økonomi, Politik og Forvaltning, Aalborg Universitet |
| Number of pages | 14 |
| ISBN (Electronic) | 978-87-92174-78-9 |
| Publication status | Published - 2009 |
Keywords
- Neoclassical production function
- The income accounting identity
- Index numbers and aggregation
- Simulation methods