A Note on the Supply Price of Enterprise

In ECONOMICA for November, 1935,1 Mr. E. F. M. Durbin argued that the conception of a short-period marginal net product of labour used in my book, Wages Policy and the Price Level, is logically inconsistent. But his arguments have a wider meaning than they were given in that particular connexion. If valid, they lead to the conclusion that it is impossible to formulate any marginal-net-productivity conception that is both useful and logically adequate. I propose here to examine this conclusion

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