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embodied technical progress


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Improvements in technical knowledge which can be exploited only by investment in new equipment; technical improvements are embodied in the equipment. Embodied technical progress is contrasted with disembodied technical progress, where new knowledge can be exploited with unchanged equipment. In practice many innovations require partial but not total replacement of equipment for their utilization, so the embodiment of technical progress is a matter of degree. See also technical progress.

Subjects: Economics.


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