In micro-economic theory much room is given to the discussion of inhomogeneous production functions, or more precisely, production functions with a monotonically decreasing elasticity of scale. On the ...

The Southern Economic Journal features original, refereed scholarly articles in all areas of economics as well as contributions on the pedagogy of economics. The journal also contains occasional ...

Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and ...