The Theory of Marginal Productivity Tested by Data for Manufacturing in Victoria, I

Abstract

I. The method and earlier applications of it, 1.— Scope of the present study, 5.— Differences between Victorian and American industry, 5.— II. The index of production: method and sources, 6; its movements during the period, 18.— III. The index of labor: method and sources, 19; comparison with index of production, 21. IV. The index of capital: method and sources, 21. — V. The equation of production, 24. — VI. Comparison of the computed and actual indexes of production, 25.— Analysis of the divergences of P ′ from P , 29.— Comparison of the trends, 32.— Deviations from the trends, 33.