Abstract
It is Wicksteed who first pointed out the ‘fascinating’ analogy between the laws of satisfaction and those of production.1 A trivial idea by now, the formal identity between consumption and production theory comes from the fact that in both cases the main problem is one of maximizing an ordinary function of several independent variables subject to a budget constraint.
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Notes
A. W. Stonier and D. C. Hague, A Textbook of Economics (2nd edn., London, 1958), p. 119.
Richard H. Leftwich, The Price System and Resource Allocation (rev. edn., New York, 1960), p. 108.
Kenneth E. Boulding, Economic Analysis (3rd edn., New York, 1955), p. 585.
A. L. Bowley, The Mathematical Groundwork of Economics (Oxford, 1924), pp. 28 f.
J. R. Hicks, The Theory of Wages (London, 1932), p. 237.
Erich Schneider, Theorie de Produktion (Vienna, 1934), p. 1.
A. C. Pigou, The Economics of Stationary States (London, 1935), p. 142.
Paul A. Samuelson, Foundations of Economic Analysis (Cambridge, Mass., 1948), p. 57.
George J. Stigler, The Theory of Price (New York, 1949), p. 109.
Sune Carlson, A Study on the Pure Theory of Production (New York, 1956), p. 12.
Wassily W. Leontief, The Structure of American Economy, 1919–1929 (2nd edn., New York, 1951), pp. 12 f., 37.
Tjalling C. Koopmans, ‘Analysis of Production as an Efficient Combination of Activities’ Activity Analysis of Production and Allocation, ed. Tjalling C. Koopmans (New York, 1951), p. 36.
John von Newmann, ‘A Model of General Economic Equilibrium Review of Economic Studies, xiii (1945), 2.
Karl Marx, Capital (Chicago, 1932), i, 232 f.
R. Dorfman, P. A. Samuelson and R. M. Solow, Linear Programming and Economic Analysis (New York, 1958), Chapter 9 and 10.
Paul M. Sweezy, The Theory of Capitalist Development (New York, 1942), pp. 76 f.
S. Newcomb, Principles of Political Economy (New York, 1886).
K. Marx and F. Engels, Selected Works (Moscow, 1958), i, 82.
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© 1969 International Economic Association
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Georgescu-Roegen, N. (1969). Process in Farming Versus Process in Manufacturing: A Problem of Balanced Development. In: Papi, U., Nunn, C. (eds) Economic Problems of Agriculture in Industrial Societies. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08476-0_24
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