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Capital and TimeA Neo-Austrian Theory$
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J. R. Hicks

Print publication date: 1987

Print ISBN-13: 9780198772866

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198772866.001.0001

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The Production Function

The Production Function

Chapter:
(p.177) XV The Production Function
Source:
Capital and Time
Author(s):

John Hicks

Publisher:
Oxford University Press
DOI:10.1093/0198772866.003.0015

This chapter discusses the production function. Product as a function of labour and capital applied — a function that is unchanged with given technology, but changes when technology changes. The chapter also addresses the question of whether there is anything left of that old classification of invention-bias introduced in 1932 — the ‘Hicks’ classification. It considers whether it can be brought into relation with the classification used in this book.

Keywords:   labour, capital, Hicks classification, invention-bias

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