Sunday, February 22, 2015

Lars P. Syll — The human capital controversy


Lars buries "human capital" with increasing returns to scale. "Human capital" is a modeling move to deal with increasing returns to scale, because ideas involve increasing returns to scale and increasing returns to scale is incompatible with the neoclassical model. The move does't work. If you are following this debate, you will want to read this.

Lars P. Syll’s Blog
The human capital controversy
Lars P. Syll | Professor, Malmo University

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