Talk:Law of diminishing returns

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Revision as of 01:04, 13 June 2008 by imported>Nick Gardner (→‎Comments?)
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 Definition:  A concept in economic theory which states that the output per input (productivity) declines if the input of a production factor is increased over a certain limit. [d] [e]
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Comments?

Hi there! I had started the article as a raw draft on my user page. After I received feedback on my draft article I decided to put it up for discussion. --Paul Schächterle 14:45, 15 May 2008 (CDT)

I have advised Paul that this article is generally inaccurate, and I have suggested making a fresh start. Nick Gardner 11:30, 16 May 2008 (CDT)

I suggest that this article should now be deleted Nick Gardner 16:00, 6 June 2008 (CDT)

Frankly, I find the argument the article was generally inaccurate very vague. So just deleting the article does not seem right to me. I currently do not have the time to recheck everything. So I would be interested in a third opinion. Or Nick, you could make an alternative draft for the article. Of course I see and appreciate that you already have put a lot of work in a lot of other articles. --Paul Schächterle 11:12, 12 June 2008 (CDT)

In the approved article on microeconomics, to which I referred you previously, the law of diminishing returns is stated as:-

diminishing returns refers to the observation that if one only of the factors is progressively increased, leaving the others unchanged, output rises, at first in proportion, but subsequently less than proportionately to the rising input. For example, although doubling the number of workers on a building site might get the job done twice as fast, it does not follow that trebling that number would get it done three times as fast.

You will note that the question of the optimal combinations of factors does not arise, nor does it state that there are circumstances in which an increase of the variable factor will result in a decrease of the overall product. Those are two respects in which this article is wrong. I suggest that you withdraw it. Nick Gardner 01:04, 13 June 2008 (CDT)

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