Find
Search for over 200,000 study notes and past assignments!
Swap
Download study resources by swapping your own or buying Exchange Credits.
Study
Study from your library anywhere, anytime.
6 Pages • Topic Notes • Year Uploaded: 2024
Introduction • The increasing use of capital goods in production, along with technological progress made possible by increasing knowledge, have been the foundation for rising living standards in the long run. • A country’s economic institutions and policies can be evaluated by their capacity to keep involuntary unemployment low and to sustain increases in real wages. • Technological progress has not created rising unemployment rates. Instead it has raised the lowest wage that firms can pay while still covering their costs. As a result, technological progress expands the resources the firm has to invest in increasing production, and it also incentivizes continued investment. • Creative destruction as a result of technological progress is part of the dynamism of the capitalist economic system
This document is 10 Exchange Credits
More about this document:
|
|
This document has been hand checkedEvery document on Thinkswap has been carefully hand checked to make sure it's correctly described and categorised. No more browsing through piles of irrelevant study resources. |
|
|
These are Topic NotesTopic Notes typically cover a topic (or several topics) in detail. They are not expected to cover all the topics in the course and are often less than 20 pages in length. |
|
|
What are Exchange Credits?Exchange Credits represent the worth of each document on Thinkswap. In exchange for uploading documents you will receive Exchange Credits. These credits can then be used to download other documents for free. |
|
|
Satisfaction GuaranteeWe want you to be satisfied with your learning, that’s why all documents on Thinkswap are covered by our Satisfaction Guarantee. If a document is not of an acceptable quality or the document was incorrectly described or categorised, we will provide a full refund of Exchange Credits so that you can get another document. For more information please read Thinkswap's Satisfaction Guarantee. |
Studying with Academic Integrity
Studying from past student work is an amazing way to learn and research, however you must always act with academic integrity.
This document is the prior work of another student. Thinkswap has partnered with Turnitin to ensure students cannot copy directly from our resources. Understand how to responsibly use this work by visiting ‘Using Thinkswap resources correctly’.
Browse UCL Subjects
