ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Some Macro-theoretical Foundations of Jobless Growth

An alternative heterodox explanation of the phenomenon of jobless growth is advanced, involving an interaction between demand and technical change. A mathematical condition is derived whose satisfaction ensures that both a high and low rate of growth of output results in a fall in the rate of growth of organised sector employment. During an output boom, the high rate of growth of labour productivity overwhelms the high rate of output growth, while in a period of slowdown the low or negative rate of growth of output more than compensates for the reduction in the rate of growth of labour productivity, resulting in persistent jobless growth.



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Updated On : 8th Apr, 2019

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