Like Stephen, I, too await some clarification.
John
On Aug 26, 1996 17:25:18, 'Stephen.Cullenberg@ucr.edu (Stephen Cullenberg)'
wrote:
>I guess I'm lost here. The Cambridge debate was about the relationship
>between certain aggregate measures of capital and their respective
>distributional variables. Why wouldn't relative "factor prices" affect
the
>choice of technique on a disaggregated level?
>
>Steve Cullenberg
>
>
>>A useful outcome of the cambridge debate was that because of the
>>possibilities of reswitching and reverse capital deepening, it is
logically
>>impossible to establish a positive monotonic function such that K/L =
>>f(w/r). Doesn't this alert us to look elsewhere regarding the incentives
for
>>technical change?
>>
>>peace, pat mason
>
>
>***********************************************
>Stephen Cullenberg office: (909) 787-5037, ext. 1573
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>
>