Basu, Deepankar - In: Metroeconomica 61 (2010) 4, pp. 593-620
This paper empirically tests two competing views about capital-labour substitution at the aggregate level in capitalist economies: the classical model with Marx-biased technical change versus the neoclassical model. Following <link rid="b13">Foley and Michl (1999</link>), the classical viability condition of technical...