Isle of Man Travel

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Isle of Man Travel on Keynes is very like Fisher in this regard, except that his analysis is geared more toward macroeconomics. While there are many theories of capital and the issue is still unresolved today, it is unlikely that any formulation of an aggregate of capital goods will ever make it into an aggregate production function. This is true also for labor, however. It seems that heterogeneous capital goods can be used only in a general equilibrium analysis unless one is willing to accept that peculiarities such as reswitching might occur, although this seems to be empirically unimportant. The Austrian attempt of the treatment of time as a factor in capital theory, however, seems to be a lasting aspect of capital theory. BIBLIOGRAPHY. E. Isle of Man Travel 2016.

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