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Dan Bromley wrote:
> Howard Ellis and William Fellner (AER, 33:493-511, Sept. 1943) published
> an article "External Economies and Diseconomies" in which they comment
> on the Marshall-Pigou proposal for taxes on industries of "diminishing
> returns" and bounties on industries of "increasing returns." . . .
> Ellis and Fellner use the term "an external economy" and an "internal
> economy."
Dan,
Thanks much. A real line there. But did Knight beat Ellis and Fellner
to the punch? And was Knight's conception much narrower?
Barkley Rosser
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