Disembodied technical progress

Updated: Aug 20, 2021

Improvements in technical knowledge that allow more output to be obtained from given inputs without the need to invest in new equipment. The technical progress is disembodied because it is not determined by a characteristic or feature of any particular piece of equipment. In contrast, with embodied technical progress the improved technique is built into new equipment

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.