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Technical Progress

  • R. G. D. Allen

Abstract

Steady-state growth can be generated, as we have seen, by capital accumulation in conjunction with a growing labour force, even in the absence of technical progress. But technical progress is an important and perhaps the main factor making for growth. Technical progress simply implies that increased output can be obtained over time from given resources of men and machines. But it can take a variety of forms and our purpose now is to define and distinguish some of the simpler varieties.

Keywords

Labour Force Production Function Capital Stock Technical Progress Constant Return 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© R. G. D. Allen 1967

Authors and Affiliations

  • R. G. D. Allen

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