Process in Farming Versus Process in Manufacturing: A Problem of Balanced Development

  • Nicholas Georgescu-Roegen
Part of the International Economic Association Series book series (IEA)


It is Wicksteed who first pointed out the ‘fascinating’ analogy between the laws of satisfaction and those of production.1 A trivial idea by now, the formal identity between consumption and production theory comes from the fact that in both cases the main problem is one of maximizing an ordinary function of several independent variables subject to a budget constraint.


Production Function Agricultural Development Factory Process Conceptual Problem Input Flow 
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Copyright information

© International Economic Association 1969

Authors and Affiliations

  • Nicholas Georgescu-Roegen
    • 1
  1. 1.Vanderbilt UniversityUSA

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