00760nam a2200109Ia 4500 Palmer, Ransford Surplus labour economy affects technological advances. 1991 Notes that in a surplus labour economy the engine of growth is not technology, but cheap labour. This means that jobs created require little training because production uses elemental technology. Contends that as surplus labour is absorbed over time, wages will rise, inducing firms to substitute capital for labour, and that the opportunity for substitution opens the way for new technology. Therefore, the less opportunity for the way for technology, the smaller the role of technology as an engine of growth. 3/7/00 M2LMGR A 20904 20904 0 0 0 0 CRCM CRCM 2023-05-04 0 0000000014918 2023-05-04 00:00:00 2023-05-04 A