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Unformatted text preview: over time-After 1950, Japan increased from 2.2 9.0-After WWII, countries who were heavily involved in the war beginning to rebuild; technology becomes the main engine of growth-Importance of labor is decreasing mainly in the European countries-1973-1992, decrease in productivity; main engine of growth goes back to capital except for the U.S. (labor)-After 1992, back to increase in technology-Less technology in developed countries; capital remains main engine of growth-Steady state = capital per worker is not increasing...
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This note was uploaded on 10/02/2010 for the course INTB 3353 taught by Professor Prodan during the Spring '10 term at University of Houston-Victoria.
- Spring '10