capital-intensive economy based on manufacturing by machines, specialized labor, and industrial factories Although the Industrial Revolution took decades to
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This fact is at odds with most unified theories of industrialization, which tend to imply rising skill premia as natural concomitants to economic growth This paper
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capital-intensive economy based on manufacturing by machines, specialized labor, and industrial factories Although the Industrial Revolution took decades to
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Clearly, it is to be expected that a new GPT will have a substantial positive impact on the rate of TFP growth However, a key theme of these models of economic
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