Friday 7 December 2018

Allyn Young's Increasing Returns to Scale


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In talking about increasing returns to scale, Allyn Young was referring to the achievement of the entire economic system rather than the performance of individual firms or industrial sectors.




This is what Young has in mind:


"The successors of the earlier printers are not only ... the printers of to-day, with their own specialised establishments, but also the producers of wood pulp, of various ..." 






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