Psychology Dictionary of ArgumentsHome
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| Idealization: idealization is a simplification of theories for the purpose of generalization. A) Before starting an investigation in physics, e.g. the assumption of a mass point, i.e. a practical impossibility, which, however, simplifies the calculation and delivers correct results. B) Subsequently, for example, the smoothing of the course of a curve of measured values. See also Theories, measurements. _____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Robert Solow on Idealization - Dictionary of Arguments
Harcourt I 74 Idealization/Solow/Harcourt: Solow [1956a](1) had (…) spelt out the conditions for aggregation in a simple world of two malleable capital goods and no technical progress, conditions which are akin to the present ones in that the rate of substitution of one capital good for another has to be independent of the amounts of labour used with each. In the 'quickening' case, when capital-augmenting technical progress occurs, the average productivity of labour never changes, by definition, from vintage to vintage. It follows that total 'capital' is just a head count of machines and knowledge of total employment and the average productivity of labour on any vintage is sufficient to determine the level of output - the distribution of labour amongst the machines need not be known in this special case. (…) when the total labour force is distributed amongst vintage Cobb-Douglas functions that have identical exponents so as to maximize their potential output, the average products of the vintages are equalized. Harcourt I 75 This result is the basis of the empirical work that uses an 'effective' stock of capital in an aggregate production function (…) >Aggregate production function/Solow, >Cobb-Douglas production function. 1. Solow, R. M. [1956a] 'The Production Function and the Theory of Capital', Review of Economic Studies, xxin, pp. 101-8._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Solow I Robert M. Solow A Contribution to the Theory of Economic Growth Cambridge 1956 Harcourt I Geoffrey C. Harcourt Some Cambridge controversies in the theory of capital Cambridge 1972 |
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