The law of diminishing returns
The law of diminishing returns
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DOI：
10.1007/bf01289147
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发表时间：
1974-03
期刊：
影响因子：
--
通讯作者：
R. Shephard;R. Färe
中科院分区：
文献类型：
--
作者：
R. Shephard;R. Färe
Turgot [11] introduced into economic thought a proposition which has come to be known as the “Law of Diminishing Returns.” Properly stated, it is one of the few generalities of economic theory which might be called a law, prompting Schumpeter [6] to state: “It embodies an achievement that is nothing short of brilliant and suffices in itself to place Turgot as a theorist high above Adam Smith.” Loosely worded, the proposition asserts that as equal quantities of capital and labor are applied successively to a given plot of land, the output resulting from these applications will increase monotonically at first up to a certain point, after which further applications will result in steadily decreasing product increments tending to zero.
