Harrod on the classification of technological progress. The origin of a wild-goose chase
From the 1930s to the 1970s many economists debated the classification of technological progress into neutral, labour- or capital-saving inventions. One of them was R.F. Harrod, who defined neutral inventions as those in which the capital-output ratio remains unaffected at a certain rate of interest...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2013-10-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10623 |
| _version_ | 1811172452060889088 |
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| author | D. BESOMI |
| author_facet | D. BESOMI |
| author_sort | D. BESOMI |
| collection | DOAJ |
| description | From the 1930s to the 1970s many economists debated the classification of technological progress into neutral, labour- or capital-saving inventions. One of them was R.F. Harrod, who defined neutral inventions as those in which the capital-output ratio remains unaffected at a certain rate of interest. The present work examines the origin and development of Harrod’s notion of neutrality, illustrating how it was characterised, what conceptual framework it presupposed, and what function it played within his dynamic economics.
JEL Codes: O30
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| first_indexed | 2024-04-10T17:31:23Z |
| format | Article |
| id | doaj.art-6cbd1f754dd447878d8e5aad579d6873 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:31:23Z |
| publishDate | 2013-10-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-6cbd1f754dd447878d8e5aad579d68732023-02-03T16:45:59ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432013-10-015220810.13133/2037-3643/10623Harrod on the classification of technological progress. The origin of a wild-goose chaseD. BESOMIFrom the 1930s to the 1970s many economists debated the classification of technological progress into neutral, labour- or capital-saving inventions. One of them was R.F. Harrod, who defined neutral inventions as those in which the capital-output ratio remains unaffected at a certain rate of interest. The present work examines the origin and development of Harrod’s notion of neutrality, illustrating how it was characterised, what conceptual framework it presupposed, and what function it played within his dynamic economics. JEL Codes: O30 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10623Beliefsopinions and attitudesEconomistsProduction functions (Economics)HarrodR.F. |
| spellingShingle | D. BESOMI Harrod on the classification of technological progress. The origin of a wild-goose chase PSL Quarterly Review Beliefs opinions and attitudes Economists Production functions (Economics) Harrod R.F. |
| title | Harrod on the classification of technological progress. The origin of a wild-goose chase |
| title_full | Harrod on the classification of technological progress. The origin of a wild-goose chase |
| title_fullStr | Harrod on the classification of technological progress. The origin of a wild-goose chase |
| title_full_unstemmed | Harrod on the classification of technological progress. The origin of a wild-goose chase |
| title_short | Harrod on the classification of technological progress. The origin of a wild-goose chase |
| title_sort | harrod on the classification of technological progress the origin of a wild goose chase |
| topic | Beliefs opinions and attitudes Economists Production functions (Economics) Harrod R.F. |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10623 |
| work_keys_str_mv | AT dbesomi harrodontheclassificationoftechnologicalprogresstheoriginofawildgoosechase |