Aggregate Production Functions
In macroeconomics, aggregate production functions for whole nations are sometimes constructed. In theory they are the summation of all the production functions of individual producers; however there are methodological problems associated with aggregate production functions, and economists have debated extensively whether the concept is valid.
Read more about this topic: Production Function
Famous quotes containing the words aggregate, production and/or functions:
“We cannot think of a legitimate argument why ... whites and blacks need be affected by the knowledge that an aggregate difference in measured intelligence is genetic instead of environmental.... Given a chance, each clan ... will encounter the world with confidence in its own worth and, most importantly, will be unconcerned about comparing its accomplishments line-by-line with those of any other clan. This is wise ethnocentricism.”
—Richard Herrnstein (1930–1994)
“The production of obscurity in Paris compares to the production of motor cars in Detroit in the great period of American industry.”
—Ernest Gellner (b. 1925)
“When Western people train the mind, the focus is generally on the left hemisphere of the cortex, which is the portion of the brain that is concerned with words and numbers. We enhance the logical, bounded, linear functions of the mind. In the East, exercises of this sort are for the purpose of getting in tune with the unconscious—to get rid of boundaries, not to create them.”
—Edward T. Hall (b. 1914)