I argue that many important economic problems vanish in a world of homogenous factors of production. In particular, problems that derive from the presence of transaction costs in the economy will vanish. Therefore, economists should forget the notion that factors of production are homogenous within categories.

Factors of production are homogenous within categories

Foss, Nicolai J.
2017

Abstract

I argue that many important economic problems vanish in a world of homogenous factors of production. In particular, problems that derive from the presence of transaction costs in the economy will vanish. Therefore, economists should forget the notion that factors of production are homogenous within categories.
2017
9783319474571
9783319474588
Frey, Bruno S.; Iselin, David
Economic ideas you should forget
Foss, Nicolai J.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/4002226
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