<P> The concept of diminishing returns can be traced back to the concerns of early economists such as Johann Heinrich von Thünen , Jacques Turgot , Adam Smith , James Steuart , Thomas Robert Malthus , and David Ricardo . However , classical economists such as Malthus and Ricardo attributed the successive diminishment of output to the decreasing quality of the inputs . Neoclassical economists assume that each `` unit '' of labor is identical . Diminishing returns are due to the disruption of the entire productive process as additional units of labor are added to a fixed amount of capital . The law of diminishing returns remains an important consideration in farming . </P>
<P> The concept of diminishing returns can be traced back to the concerns of early economists such as Johann Heinrich von Thünen , Jacques Turgot , Adam Smith , James Steuart , Thomas Robert Malthus , and David Ricardo . However , classical economists such as Malthus and Ricardo attributed the successive diminishment of output to the decreasing quality of the inputs . Neoclassical economists assume that each `` unit '' of labor is identical . Diminishing returns are due to the disruption of the entire productive process as additional units of labor are added to a fixed amount of capital . The law of diminishing returns remains an important consideration in farming . </P>
the law of diminishing return was proposed by
the law of diminishing return was proposed by
early economists such as Johann Heinrich von Thünen , Jacques Turgot , Adam Smith , James Steuart , Thomas Robert Malthus , and David Ricardo
early economists such as Johann Heinrich von Thünen , Jacques Turgot , Adam Smith , James Steuart , Thomas Robert Malthus , and David Ricardo