Solow (1956)6
3 Shumpeter J., 1911. The Theory of Economic Development: An Inquiry
into profits,Capital,Credit,Interest and the Business Cycle (original title in German) 1911.
with his “Long Run Growth Model” highlights that,
increasing the capital per unit of labour (a shift in the capital/labour ratio) increases
labour productivity and generates growth. But factors exhibit diminishing marginal
productivity.