Routledge Dictionary of Economics, Second Edition
Cambridge controversies (D3, E0)
Disputes between economists in Cambridge, England (ROBINSON and KALDOR), and Cambridge, Massachusetts (SOLOW and SAMUELSON), about the nature of CAPITAL. In particular, the English contestants attacked the neoclassical assumptions of their transatlantic opponents by questioning the existence of the aggregate PRODUCTION FUNCTION.
Also, they debated the theory of profits and capital, the determination of savings and the interest rate, aggregate capital and the re-switching of techniques.
References
Blaug, M. (1975) The Cambridge Revolution: Success or Failure?, rev. edn, London: Institute of Economic Affairs.
Harcourt, G.C. (1972) Some Cambridge Controversies in the Theory of Capital, Cambridge: Cambridge University Press.
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