Sentence examples for capital substitution from inspiring English sources
In the context of the minimum wage debate, pretty much everyone agrees that this kind of response — "capital substitution," to use the technical term — is to be expected.
It further suggest that by continuous upgrading of the capital, substitution between energy and labor can also be achieved and the transition of Pakistan transport sector from labor intensive to capital intensive can be realized.
It is worth stressing that the capital substitution for labour is largely not through "machines" but through intangibles such as intellectual property (IP), business models, algorithms, data aggregations and now also digital currencies.
This labour-capital substitution decreases the relative demand for workers performing routine occupations, while leading to an increase in the relative demand for workers performing non-routine tasks.
Many technological innovations replace workers with machines, but this capital-labor substitution need not reduce aggregate labor demand because it simultaneously induces four countervailing responses: own-industry output effects; cross-industry input output effects; between-industry shifts; and final demand effects.
So too might productivity; firms might be able to do much more to wring output from current workers, and there may be plenty of room to boost output through capital deepening and substitution of technology for labour.
It argues that, in capital habeas cases, substitution of counsel should be allowed only when the lawyer has abandoned the client, has a disabling conflict or does not have the required experience.
denote the elasticity of substitution between capital and labor inputs and capital share in production respectively.
If the elasticity of substitution between capital and labor is greater than 1, labor gets relatively worse off over time as capital accumulates and technology improves, in a Solow growth model where capital and labor get paid their marginal product1.
