Increasing Returns and Economic Progress¶
Young, A. A. (1928). Increasing Returns and Economic Progress. Economic Journal, 38(152), 527-542.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Economies of Scale
- … Principles of Economics (1890), which distinguished internal economies (within a firm) from external economies (across firms in a region or industry), and to Allyn Young's 1928 presidential address to Section F of the British Association for the Advancement of Science, Increasing Returns and Economic Progress,
This sourcePresidential address to Section F of the British Association (Glasgow, Sept. 1928); elevates scale-driven productivity growth from a static cost-curve concept to a dynamic engine of economic development through deepening division of labour at the level of the whole economy; supports the inline claim that Young elevated scale-driven productivity to a central engine of development.
- … Principles of Economics (1890), which distinguished internal economies (within a firm) from external economies (across firms in a region or industry), and to Allyn Young's 1928 presidential address to Section F of the British Association for the Advancement of Science, Increasing Returns and Economic Progress,
- Increasing Returns
- The classical-economics default — diminishing marginal returns, where each extra unit yields less — is locally overturned: the curve bends up instead of down, often producing self-reinforcing dynamics, multiple equilibria, and lock-in, an observation Young (1928) had already pressed against the standard textbook framing.
This sourcePresidential address to Section F of the British Association for the Advancement of Science; elevated scale-driven productivity growth from a static cost-curve concept to a dynamic engine of economic development through industrial deepening and division of labor at the level of the entire economy.
- The classical-economics default — diminishing marginal returns, where each extra unit yields less — is locally overturned: the curve bends up instead of down, often producing self-reinforcing dynamics, multiple equilibria, and lock-in, an observation Young (1928) had already pressed against the standard textbook framing.
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