Finance:Choice of techniques
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Short description: Decision in economics of whether to use more machinery or human labour in making goods
The choice of techniques is an area of economics in which the question of the appropriate capital or labour-intensity of the method of production of goods is discussed. In the context of traditional development economics it was often recognised (Stewart (1972) for example) that this choice was central to development strategies and that such choices were inter-twined with decisions over the type of goods to be produced and the scale of operation of an industry.[1][2][3][4]
See also
- Amartya Sen
- Landesque capital
References
- ↑ Sen, Amartya. (1968). Choice of techniques: an aspect of the theory of planned economic development. Oxford: Blackwell.
- ↑ Wuyts, M. E. (1974). The choice of techniques: some critical questions. Dar es Salaam: Economic Research Bureau, University of Dar es Salaam.
- ↑ Stewart, Frances. (1972): "Choice of technique in developing countries." The Journal of Development Studies 9.1 99-121.
- ↑ Bagchi, Amiya Kumar. (1977) Choice of techniques and technological development in underdeveloped countries: a critique of the non-neoclassical orthodoxy. Calcutta: Centre for Studies in Social Sciences.
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