Diminishing returns

Anderson, James, An Enquiry into the Nature of the Corn- laws: With a View to the New Corn-bill Proposed for Scotland, Edinburgh: printed by and for Mrs Mundell, 1777 Bharadwaj, Krishna, Classical Political Economy and Rise to Dominance of Supply and Demand Theories, Calcutta: Orient Longman, 1978; 2nd edition, London: Sangam, and Madras: Universities Press, 1986 Färe, Rolf, “Strong Limitationality of Essential Proper Subsets of Factors of Production”, Zeitschrift für Nationalökonomie, 32/4 (1972): 417-24 Färe, Rolf, Fundamentals of Production Theory, Berlin and New York: Springer, 1988 Gossen, Hermann-Heinrich, The Laws of Human Relations and the Rules of Human Action Derived Therefrom, Cambridge, Massachusetts: MIT Press, 1983 (German edition 1854) Malthus, Thomas, An Inquiry into the Nature and Progress of Rent and the Principles by Which It Is Regulated, London: John Murray, 1815 Marshall, Alfred, Principles of Economics, 9th edition, edited by C.W. Guillebaud, 2 vols, London and New York: Macmillan, 1961 (1st edition 1890) Menger, Karl, “The Logic of the Laws of Return: A Study in Metaeconomics” in Economic Activity Analysis, edited by Oskar Morgenstern, New York: Wiley, and London: Chapman and Hall, 1954 Mill, John Stuart, Principles of Political Economy with Some of Their Applications to Social Philosophy, edited by J.M. Robson, Toronto: University of Toronto Press, and London: Routledge and Kegan Paul, 1965 (originally published 1848) Quadrio Curzio, Alberto, “Rent, Income Distribution and Orders of Efficiency and Rentability” in Essays on the Theory of Joint Production, edited by Luigi L. Pasinetti, London and New York, Macmillan, 1980 Quadrio Curzio, Alberto, “Technological Scarcity: An Essay on Production and Structural Change” in Foundations of Economics: Structures of Inquiry and Economic Theory, edited by Mauro Baranzini and Roberto Scazzieri, Oxford and New York: Blackwell, 1986 Ricardo, David, “On the Principles of Political Economy and Taxation” in The Works and Correspondence of David Ricardo, edited by Piero Sraffa and M.H. Dobb, vol. 1, Cambridge: Cambridge University Press, 1951 (1st edition 1817; 3rd edition 1821) Scazzieri, Roberto, “Scale and Efficiency in Models of Production” in Advances in Economic Theory, edited by Mauro Baranzini, Oxford: Blackwell, and New York: St Martin’s Press, 1982 Scazzieri, Roberto, A Theory of Production: Tasks, Processes and Technical Practices, Oxford: Clarendon Press, and New York: Oxford University Press, 1993 Schneider, Erich, Theorie der Produktion, Vienna: Springer, 1934 Senior, Nassau William, An Outline of the Science of Political Economy, New York: Kelley, 1965 (1st edition 1836) Serra, Antonio, Breve trattato delle cause che possono far abbondare li regni d’oro e d’argento, dove non sono miniere, Calabria: Mediocredito regionale della Calabria, 1985 (originally published 1613) Shephard, Ronald W., “Proof of the Law of Diminishing Returns”, Zeitschrift für Nationalökonomie, 30/1-2 (1970): 7-34 Sraffa, Piero, “On the Relations between Cost and Quantity Produced” in Italian Economic Papers, vol. 3, edited by Luigi L. Pasinetti, New York: Oxford University Press, 1998 (originally published in Italian 1925) Turgot, Anne Robert Jacques, Observations sur le mémoire de M. de Saint-Peravy en faveur de l’impôt indirect, in Oeuvres de Mr Turgot, 9 vols, Paris: Delance, 1808-11: vol. 4 (manuscript 1768) Wicksteed, Philip Henry, “The Scope and Method of Political Economy in the Light of the Marginal Theory of Value and Distribution”, Economic Journal, 24/1 (1914): 1-23 The economic analysis of diminishing returns originates with the discovery by SERRA that agricultural and manufacturing processes are associated with a different proportionality relationship between the levels of factor/inputs and the level of output. According to Serra, agricultural output increases less than proportionately with respect to the levels of factor/inputs, whereas manufacturing output often increases more than proportionately.

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