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The Hobson-Marshall Controversy on the Marginal Product of Labour

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Author Info
Ebbe Yndgaard () (Department of Economics, University of Aarhus, Denmark)
Abstract

On the occasion of the one hundred years' anniversary an unsettled dispute between John Hobson and Alfred Marshall is revived. The paper argues that Marshall misunderstood Hobson who by claiming that the choice of technique is endogenous arrives at the conclusion that marginal labour is an indeterminate and hence inoperational concept.

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Publisher Info
Paper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number 1997-24.

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Handle: RePEc:aah:aarhec:1997-24

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Related research
Keywords: Marginal product; endogenization of technology; externality.;

Find related papers by JEL classification:
B3 - Schools of Economic Thought and Methodology - - History of Thought: Individuals
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
D1 - Microeconomics - - Household Behavior
D2 - Microeconomics - - Production and Organizations
D3 - Microeconomics - - Distribution

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This page was last updated on 2009-12-10.


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