Innovation and Employment: A Survey
نویسنده
چکیده
Innovation and Employment: A Survey According to the "compensation theory", market forces should assure a complete compensation of the initial labour-saving impact of process innovations. In this paper a critique of this approach is proposed through a detailed survey of the theoretical and empirical literature on the subject. The general conclusion is that – although compensation is always working – the complete counter-balancing of dismissed workers cannot be assumed ex-ante. JEL Classification: J64, O33
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