| dc.creator | Tobin, James | |
| dc.date | 2011-04-06T14:55:23Z | |
| dc.date | 2011-04-06T14:55:23Z | |
| dc.date | 1974-01 | |
| dc.date.accessioned | 2012-11-10T12:57:46Z | |
| dc.date.available | 2012-11-10T12:57:46Z | |
| dc.date.issued | 10-11-12 | |
| dc.identifier | Tobin, James. (1974) Technological development and employment. Discussion Paper 190, Nairobi: Institiute for Development Studies, University of Nairobi | |
| dc.identifier | http://opendocs.ids.ac.uk/opendocs/handle/123456789/544 | |
| dc.identifier | 317727 | |
| dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/handle/123456789/1897 | |
| dc.description | This theoretical paper considers the investment strategy of an
economy trying to shift from old to new technology. The two technologies
are described by fixed capital/output and labor/output coefficients, The
new technology has a lower labor/output requirement. Structural unemployment
due to capital shortage is a possibility. Aggregate investment is
limited by the economy's propensity to save and the strategic problem is
the allocation of investment between the two sectors. It is shown that if
the new technology requires more capital per unit of net output, investment
should be allocated to the old technology until full employment is achieved
and then split between the two sectors in proportions that preserve full
employment. There is no conflict between maximizing employment and maximizing
growth of output and consumption. If, however, new technology is less
capital-using than old, it may happen that full employment and full development
are incompatible objectives. The impasse can be broken if additional
saving is temporarily available and in the use of such saving employment
and output growth are competing objectives. | |
| dc.language | en | |
| dc.publisher | Institute for Development Studies, University of Nairobi | |
| dc.relation | Discussion Papers;190 | |
| dc.rights | http://creativecommons.org/licenses/by-nc-nd/3.0/ | |
| dc.rights | Institute for Development Studies, University of Nairobi | |
| dc.subject | Economic Development | |
| dc.title | Technological development and employment | |
| dc.type | Series paper (non-IDS) | |
