Technological Advance, Economic Growth, and the Distribution of Income

Abstract

The relationships among technological advance economic growth and distribution of income are examined. The author first considers situation in nineteenth-century Western Europe. He then notes that the new wave of technological change--computerization automation robotization--is progressively reducing role of labor in production leading to increasing technological unemployment and exerting a socially undesirable effect on income distribution. The different options open to governments of developed and developing countries to alleviate resulting problems are reviewed. (summary in FRE SPA) (EXCERPT)