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Technological Innovation and Labour Market Adjustments

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  • Lewis, Jacqueline A
  • Armstrong, Kathleen M

Abstract

This paper reports on a survey of engineering firms in the West Midlands to investigate the introduction of advanced technological production systems. The results show a relatively low level of adaption compared with major competitors and that training is concentrated in a small number of firms. The evaluation of rates of return to investment in new technological systems is more complex than investment decisions generally because the anticipated costs and benefits are difficult to qualify, and, since it ususlly involves a joint investment in both human and physical capital, the risks of nonrecoupment of benefits are exacerbated. Copyright 1988 by Scottish Economic Society.

Suggested Citation

  • Lewis, Jacqueline A & Armstrong, Kathleen M, 1988. "Technological Innovation and Labour Market Adjustments," Scottish Journal of Political Economy, Scottish Economic Society, vol. 35(2), pages 162-170, May.
    • Handle: RePEc:bla:scotjp:v:35:y:1988:i:2:p:162-70
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