Fallacy of Composition: Production Function
There surely is a production function at each workshop of a factory but not on the level of factory rightly managed; not to mention at the whole firm to the aggregate industry all the way to the macro-economy. The operation of the workshop is mechanic, but management of the firm is organic: That’s fortunate (+) to some while unfortunate (-) to others. With regard to the production function, some (+) take the organic economy as the economy; while others (-) take a certain mechanic workshop out of indefinitely many nationally for the whole economy. An interesting question: Would there be such a thing as organic “equation” or “function” as called in mathematics and macroeconomics? As for the rest of us, at least: Well, never in Here on Earth. We have yet to discover what over There in Eternity. 14) The Produc...