The American Journal of Economics and Sociology, December 1st, 2002
Introduction
A BRIEF SURVEY OF CONTEMPORARY INTRODUCTORY TEXTBOOKS in economics indicates that the classification of the factors of production utilized by classical political economists has been retained. To land, labor and capital these texts occasionally add entrepreneurship. The returns to the factors--rent, wages and interest (as well as profit)--are explained in rough accordance to usage of more than 100 years. When more advanced texts in microeconomic theory are examined, however, the accordance disappears.
In the March 1928 issue of the American Economic Review, Clark Warburton exam...
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