Harrod-neutral technical progress

Updated: Aug 20, 2021

Technical progress which increases the efificiency 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.

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

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