Capital-Biased Technological Change
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A Capital-Biased Technological Change is a technological change that is capital-biased.
- Context:
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- Counter-Example(s):
- See: Capital–Skill Complementarity; Elasticity of Substitution.
References
2014
- (Brynjolfsson & McAfee, 2014) ⇒ Erik Brynjolfsson, and Andrew McAfee. (2014). “The Second Machine Age: Work, Progress, and Prosperity in the Time of Brilliant Technologies." W W Norton & Company. ISBN:0393239357
- QUOTE: The third argument for technological unemployment may be the most troubling of all. It goes beyond “temporary” maladjustments. As described in detail in chapters 8 and 9, recent advances in technology have created both winners and losers via skill-biased technical change, capital-biased technical change, and the proliferation of superstars in winner-take-all markets.