Download This PaperIsoquant, PPC and Their Indirect Form: Disproving Diamond's Growth Theory
4 Pages Posted: 31 Mar 2016
Date Written: March 27, 2016
Abstract
This paper disproves Diamond’s growth theory. It shows that his interacting functions are identical. No policy implication can be then derived, stable or not. Production possibility curve is just another way to express an isoquant with given budget constraint. Another equivalent, or indirect, expression of the isoquant is the wage-interest relation. This paper helps clarify many different but similar concepts of production and utility.
Keywords: Economic Growth, Production
JEL Classification: O41
Suggested Citation: Suggested Citation
Choi, Hak, Isoquant, PPC and Their Indirect Form: Disproving Diamond's Growth Theory (March 27, 2016). Available at SSRN: https://ssrn.com/abstract=2755361 or http://dx.doi.org/10.2139/ssrn.2755361
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