SECTION III
ACCUMULATION AND TECHNICAL PROGRESS

CHAPTER 16
ACCUMULATION WITH NEUTRAL TECHNICAL PROGRESS

WE may now examine technical progress in slow motion in the same manner as we have examined shifts in the mechanisation frontier. We adopt the same special assumption as before, except that now neutral inventions are being made. They come forward just so frequently, relatively to the rate at which accumulation is going on, as to permit a steady rate of accumulation with capital goods appropriate to no more than two phases of development co-existing at any time (there are only two players in the game of leap-frog).1

The argument covers the same ground as that of Chapter 9 in more detail and with the added complications introduced by the existence of a spectrum of techniques.


NEUTRAL INNOVATIONS

When our story opens, the rate of profit has long been constant, and is expected to remain so. At this particular moment, nearly all labour is employed with one technique, Beta, which has recently superseded Beta-minus; but the most progressive firms have meanwhile developed a superior technique, Beta-plus, and a small part of the labour force is engaged in filling a pipe-line in the investment sector with capital goods appropriate to Beta-plus. The relation of Beta- plus to Beta technique is neutral: that is to say output per head is raised by it in the investment sector (in terms of productive capacity) in the same ratio as in the consumption sector. As Beta-plus equipment begins to be installed in the consumption

____________________
1
Cf. above, p. 86.

-159-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
The Accumulation of Capital
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 440

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.