Technical progress, the production function and dualism

Authors

  • H. LEIBENSTEIN

DOI:

https://doi.org/10.13133/2037-3643/11937

Keywords:

Economic dualism, technical progress, production function, investment

Abstract

While a great deal has been written in recent years on the problem of economic dualism, rather little has been done to connect it with the nature of technical progress. The purpose of the present work is to suggest a view of the production function and its relation to technical progress, which may lead to insights into the phenomenon of economic dualism. It is suggested that the nature of the production function and of technological progress may serve, in the extreme case, as a bottleneck to the inducement to invest, and in the less extreme case, as a factor that stifles the inducement to invest in the backward sector as compared to the advanced sector. In addition, other elements are considered which are closely linked to the inducement to invest, and which operate in a differential manner between two sectors.

 

JEL: E13, E23, O33

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Published

2014-03-27

How to Cite

LEIBENSTEIN, H. (2014). Technical progress, the production function and dualism. PSL Quarterly Review, 13(55). https://doi.org/10.13133/2037-3643/11937

Issue

Vol. 13 No. 55 (1960)

Section

Editorial

License

 
 
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