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Erschienen in:
1969 | OriginalPaper | Buchkapitel
Levels of Remuneration, Factor Proportions and Income Differentials with Special Reference to Developing Countries
verfasst von : Samir Amin
Erschienen in: Wage Policy Issues in Economic Development
Verlag: Palgrave Macmillan UK
Enthalten in: Professional Book Archive
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Current theory clearly demonstrates that, as far as the choice of production technique is concerned, high wage rates lead entrepreneurs to choose, from among various equally effective combinations of the factors capital and labour, the one that results in a saving of labour and a more intensive employment of capital; and conversely, that low wage rates induce them to substitute labour, which is plentiful in the less-developed economies, for capital, which is scarce.