The Marginal Productivity Theory of the Price of Capital : An Historical Perspective on the Origins of the Codswallop

Grieve, Roy H (2012) The Marginal Productivity Theory of the Price of Capital : An Historical Perspective on the Origins of the Codswallop. Discussion paper. University of Strathclyde, Glasgow.

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Abstract

Although it might have been expected that, by this point in time, the unacceptability of the marginal productivity theory of the return on capital would be universally agreed, that is evidently not the case. Popular textbooks still propound the dogma to the innocent. This note is presented in the hope that a succinct indication of the origins of the theory it will contribute to a more general appreciation of the unrealistic and illogical nature of this doctrine.

  • Item type:Monograph(Discussion paper)
    ID code:67955
    Dates:
    Date
    Event
    2 April 2012
    Published
    Notes:Published as a paper within the Discussion Papers in Economics, No. 12-03 (2012)
    Subjects:Social Sciences > Economic Theory
    Department:Strathclyde Business School > Economics
    Depositing user: Pure Administrator
    Date deposited:22 May 2019 10:36
    Last modified:13 Nov 2024 13:53
    Related URLs:
    URI:https://strathprints.strath.ac.uk/id/eprint/67955
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