Abstract

The fundamental contribution of this research is regarding five of Cobb and Douglas’s core questions that we believe the theory of economic growth has not made clear until now. The answers we provide are an attempt to measure relative and total resource contribution to production growth and its distribution between them. It implies paying close attention to the latest refinement of the theory and dealing with new critical assumptions, key formulas, and method of attack. The evaluation of these efforts by Cobb and Douglas’s data support the hypothesis that distribution processes are modeled by those of the production of value. The scope of this research could motivate further progress in the study of economic growth.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.