Topic > The production function and economic theory, of...

It was based on the idea that capital can be measured and aggregated. This was called the Cambridge controversy and also became the position in Cambridge, England (1956). Through this brought opportunities that allowed her to make several trips to China to observe their Economic Outlook 1958, The Cultural Revolution 1969 and Economic Management 1976. Explain how the future expected rate of production is associated with a capital good and the expected future prices and costs , and therefore, if given the interest rate, we can value the capital good as a discounted flow of the future profit we can earn. Through this we are able to know the main purpose of the production function, which is to show how wages and the interest rate are determined by the technical conditions and the relationship between the factors (August 25, 2014) With his knowledge of the function of manufacturing became invaluable with analyzing the Chinese economy as he understood the concepts and could apply them. Later he produced many books in 1980 such as: Collected Economic Papers 1951-79 and Economic Philosophy