Embodied Progress, Investment, and Growth

In this paper, after a discussion of some of the properties of an aggregate production function and of "efficiency units," it will be argued that the concept of embodied progress has not received a precise definition.

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Bibliographic Details
Published in:The American economic review 1966-03, Vol.56 (1/2), p.138-151
Main Author: Green, H A J
Format: Article
Language:English
Subjects:
Capital goods
Capital investments
Consumer goods
Consumer sectors
Economic growth rate
Efficiency metrics
Employee efficiency
Investment return rates
Price indices
Production efficiency
Production functions
Studies
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Description
Summary:In this paper, after a discussion of some of the properties of an aggregate production function and of "efficiency units," it will be argued that the concept of embodied progress has not received a precise definition.
ISSN:0002-8282
1944-7981