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The Leontief paradox, presented by Wassily Leontief in 1951, [1] found that the U.S. (the most capital-abundant country in the world by any criterion) exported labor-intensive commodities and imported capital-intensive commodities, in apparent contradiction with the Heckscher–Ohlin theorem. However, if labor is separated into two distinct ...
In 1971 Robert Baldwin showed that U.S. imports were 27% more capital-intensive than U.S. exports in the 1962 trade data, using a measure similar to Leontief's. [2] [3]In 1980 Edward Leamer questioned Leontief's original methodology for comparing factor contents of an equal dollar value of imports and exports (i.e. on real exchange rate grounds).
Capital intensity is the amount of fixed or real capital present in relation to other factors of production, especially labor.At the level of either a production process or the aggregate economy, it may be estimated by the capital to labor ratio, such as from the points along a capital/labor isoquant.
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A business plan is a formal written ... They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing ...
Labor-capital ratio: the relationship between employment and capital stock. [clarification needed] This ratio indicates the relative use of factors in an activity and the extent to which it is labor-intensive compared to capital-intensive. [5] The ratio between employment and value added, which indicates the labor intensity of production.
The Rybczynski theorem was developed in 1955 by the Polish-born English economist Tadeusz Rybczynski (1923–1998). It states that at constant relative goods prices, a rise in the endowment of one factor will lead to a more than proportional expansion of the output in the sector which uses that factor intensively, and an absolute decline of the output of the other good.
The Incremental Capital-Output Ratio (ICOR) is the ratio of investment to growth which is equal to the reciprocal of the marginal product of capital. The higher the ICOR, the lower the productivity of capital or the marginal efficiency of capital. The ICOR can be thought of as a measure of the inefficiency with which capital is used. In most ...