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Harrod-neutral technical progress


'Harrod-neutral technical progress' can also refer to...

 

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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.


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