Economics
Technological change is a term that is used in economics to describe a change in the set of feasible production possibilities.
Neutral technological change refers to the behaviour of technological change in models. A technological innovation is Hicks neutral, following John Hicks (1932), if a change in technology does not change the ratio of capital's marginal product to labour's marginal product for a given capital to labour ratio. A technological innovation is Harrod neutral (following Roy Harrod) if the technology is labour-augmenting (i.e. helps labor); it is Solow neutral if the technology is capital-augmenting (i.e. helps capital).
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