Harrod-neutral technical progress

Show Summary Details

Quick Reference

Technical progress which increases the efficiency of labour, so that the labour force in efficiency units increases faster than the number of workers available. Technical progress of this form is thus labour-saving. It is contrasted with Hicks-neutral technical progress, where the efficiency of all factors increases in the same proportion. See also technical progress.

Subjects: Economics.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.