Crecimiento económico: enfoques y modelos. Capítulo 3 - La controversia sobre la teoría del capital y la teoría del crecimiento

This chapter contains the capital theory controversy that took place among the most important economists from the universities of Cambridge (UK) and Cambridge (Mass.). First, we present the neoclassical propositions which are summarized in the neoclassical parables. The second section contains Robinson’s criticism to the neoclassical capital theory and Garegnani’s criticism to the decreasing marginal productivity theory. Third, we summarize the Samuelson attempt of validating the neoclassical production function and his main mistakes. The fourth section presents the Solow response and Nell’s criticism. Finally, we present the main contributions of the capital theory controversy.