Edward West
From Infogalactic: the planetary knowledge core
Edward West (1782–1828) was a British economist. He is famous for his statement of the law of diminishing returns[1] in his Essay on the Application of Capital to Land (1815, p. 2): “The principle is simply this, that in the progress of the improvement of cultivation the raising of rude produce becomes progressively more expensive, or, in other words, the ratio of the net produce of land to its gross produce is constantly diminishing.” (The gross produce means the value of total output and the net is the gross minus the cost of production and exclusive of profit and rent.)
References
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
