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Technological Progress in a Below Full Employment Economy

Wednesday, September 21, 2016 0:06
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(Before It's News)

by Philip Pilkington

Article of the Week from Fixing the Economists

I recently came across a rather interesting argument that the famous Post-Keynesian economist Abba Lerner made in relation to his well-known doctrine of Functional Finance. Basically Lerner said that labour-saving technological innovation in a below full employment economy was not particularly socially useful.

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