Question

discuss neutral versus biased technical progress. suppose there is an announcement of salary increase in Botswana, how could firms switch their technology use, and how relevant is this for employment creation?

Answer 1

Hicks-neutral technical change is change in the production function of a business or industry which satisfies certain economic neutrality conditions. The concept of Hicks neutrality was first put forth in 1932 by John Hicks in his book The Theory of Wages.^[1] A change is considered to be Hicks neutral if the change does not affect the balance of labor and capital in the products' production function. More formally, given the Solow model production function

{\displaystyle Y=A*F(K,L)\,},

a Hicks-neutral change is one which only changes {\displaystyle A}.^[2]

Production Function Y = A * k^α * (h^1-α)

Biased Technical Change in Agriculture and Industrial Growth :-

This paper presents a two‐sector growth model in which industrial accumulation is sensitive to the factor‐saving bias of technical change in agriculture. Agriculture features low factor substitutability and hidden unemployment and, in the baseline scenario, industrial growth is constrained by aggregate demand. Land‐saving innovations are then shown to raise rural employment, enlarge the domestic market for manufactures, and bolster industrial accumulation, in contrast to labor‐saving innovations. The baseline model and its extensions illuminate recent empirical studies which established that higher land yields boost industrial growth in developing countries, as well as accounts of the role of agricultural innovations in the industrialization of Japan, East Asia, and Latin America.

5 Ways Tech Will Change Marketing :-

The marketing landscape is evolving rapidly. Hardly breaking news. There are new companies and products constantly popping up that enable more efficient and effective work across all channels. The teams that achieve the most success are the ones that are constantly up-to-date with these new tools.

Finding new products is also a lot easier today than it was in the past. Today, there are far more thought leaders, newsletters, and blogs sharing the latest trends and ways in which companies are taking advantage of them.

Here are 5 ways that tech is going to change marketing in 2018 that you should be on the lookout for:

1. It Will Be Easier To Find Customers.

2. There Is Better Customization.

3. There Will Be A Greater Push For Immediate Sales.

4. No Excuse For Poor Web Design.

5. There Will Be A Greater Emphasis On Data (if that’s even possible).

The Job-Creating Machine

It must be stressed: All jobs lost in outpaced fields due to technological development are recovered by a large margin in new areas. Are you still suspicious about that? Let me prove my point.

If it is true that technology blew away jobs in agriculture, cleaning, routine factory operations, construction, and mining, it is also true that innovation gave birth to information technology managers, whose number has risen by a factor of 6.5 to over 327,000 in the last decades in the UK, plus programmers and software development professionals, whose number has risen by a factor of almost three to 274,160.
Indeed, in the UK, employment has more than doubled in the last century and a half.

By the way, the direct job-creating role of technology is relatively clear and well-known.

Hope you all are satisfied with my answer. God bless you and all the very best in ur studies.????