The Determination of the Rate of Technical Progress

I t is clear from almost all approaches to what determines an economy’s equilibrium rate of growth that the rate of technical progress will have a dominant influence upon it. The rate of technical progress will also be a major factor in the determination of an economy’s capital-output ratio, its rate of profit and its distribution of incomes. How the rate of technical progress is determined will therefore be a matter of the utmost importance. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.