Description
Book SynopsisThe impact of technical change on employment is investigated in this important new book which offers a critical appraisal of how far current economic analysis and theory can deal with this key policy issue.
The Economics of Technology and Employment addresses the impact of technical change on employment from both theoretical and empirical perspectives. After an analytical discussion of theoretical propositions and models put forward by classical and contemporary economists, Dr Vivarelli develops a model to examine the extent to which worker displacement due to technical progress can be offset by compensatory market forces. This model is tested using Italian and US aggregate time-series data. The theoretical discussion and empirical results are combined to demonstrate that the employment impact of labour saving technologies can only be partially counter-balanced by market forces and so economic policy measures could be necessary.
This important and innovative volume will be welcomed by economists and policymakers as a major contribution to our theoretical understanding of employment, industrial innovation and technical change.
Trade Review'. . . the book covers in an interesting and useful way a wide range of issues, systematically connected with an enlarged assessment of the compensation theory.'Table of ContentsContents: 1. Introduction 2. The Economics of Technical Change and Employment 3. Technology and Employment in the History of Economic Thought: Towards a Comprehensive Taxonomy 4. The Recent Debate: The Neoclassical Approach 5. The Recent Debate: Alternative Approaches 6. The Empirical Studies: A Critical Survey 7. A Testable Model 8. The Econometric Tests Based on Italian Data 9. The Econometric Tests Based on US Data 10. Conclusions and Policy Implications References Index
