Production Factors Quotes

The role of humans as the most important factor of production is bound to diminish in the same way that the role of the horse in agricultural production.

Labour is ... not the only source of material wealth, i.e, of the use-values it produces. As William Petty says, Labour is the father of material wealth, the earth is its mother.

If God had meant there to be more than two factors of production, He would have made it easier for us to draw three-dimension al diagrams.

If very fundamental reforms take place, especially when it comes to factors of production like land, labour, then a higher growth rate is possible.

On the unhampered market there prevails an irresistible tendency to employ every factor of production for the best possible satisfaction of the most urgent needs of the consumers. If the government interfered with this process, it can only impair satisfaction; it can never improve it.

Scripts don't get movies made.

The proportions, too, in which the capital that is to support labour, and the capital that is invested in tools, machinery and buildings, may be variously combined.

But even in the absence of direct interference by those who had the power to interfere, the process was usually aborted by the non-availability of one of more elements of the process - the accumulated stock in a money form, the labor-power to be utilized by the producer, the network of distributors, the consumers who were purchasers. One or more elements were missing because, in previous historical social systems, one or more of these elements was not commodified or was insufficiently commodified.

To the labor of man alone Smith ascribes the power of producing values. This is an error. A more exact analysis demonstrates... that all the values are derived from the operation of labor, or rather from the industry of man, combined with the operation of those agents which nature and capital furnish him.

It is much more accurate to identify the factors of production as know-how (that is genetic information structure), energy, and materials, for, as we have seen, all processes of production involve the direction of energy by some know-how structure toward the selection, transportation, and transformation of materials into the product