ECON 4070 Study Guide - Umbar, Technological Unemployment, Jab
Document Summary
Respect to current tech partly due to repeating tasks. As tech becomes more advanced, difficulty raises in major breakthroughs. Sector that lags behind in growth has greater weight in economy thus dragging down overall . Baulmol paper industrialized nations that were poor in 19th century grew at a faster rate then other. A key predication to steady state of solow model. Brad de long critique the countries he selected had already caught up with each other and were hand selected to prove results. Financing gap output increases in proportion to machines or working capital, and hence increases machines investment which leads to growth. Many places have little invest and require aid. Examined 88 countries over 30 yrs testing if aid leads to increase in invest. Second, if the increase leads to $/$ ratio. Examine 138 invest over 4 yr then g over 4 yrs. Myth unwanted births argues even most uninformed person knows difference in cost of child and condoms.
