|WikiProject Economics||(Rated Start-class, Low-importance)|
"Samuelson's earlier proposition that heterogenous capital could be treated as a single capital good, homogeneous with the consumption good, through a "surrogate production function" turned out to be mistaken." Contra mainstream theory? Mistaken how?
"However recent economic research has invalidated that theory, since Solow did not properly consider changes in both investment and labor inputs."