Harrod on the classification of technological progress. The origin of a wild-goose chase
Article Abstract:
Economists from the 1930s to the 1970s argued on the classification of technological progress into neutral, labour- or capital-saving inventions. One of them was R.F. Harrod who defined the capital-output ratio which is unaffected at a certain rate of interest as neutral inventions. He rejected the use of production function due to the dynamic equilibrium. Harrod insists on production function in the concept of capital per unit of output.
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 1999
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Whither the US economy?
Article Abstract:
The economic performance of the US has been viewed by various professional national economic analysts as superior over other major industrialized countries. This was affirmed by a brochure published by the US Government at the Denver Summit Meeting in Jun 1997. A comparative analysis of the economic performance of G-7 countries, calling the US economy as 'an economic strategy that has worked' was presented in the brochure
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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