Does History Suggest That Most Technological Progress Is Labor-Saving or Labor-Augmenting

question 106

Essay

Does history suggest that most technological progress is labor-saving or labor-augmenting?

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Definitions:

Narrow Definition

A specific and limited interpretation of a term or concept, focusing on a particular aspect.

Checkable Deposits

Bank account balances that depositors can withdraw on demand using checks, debit cards, or electronic transfers, essentially acting as money.

Money Supply

The total amount of money available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Legal Tender

Currency that must be accepted if offered in payment of a debt in the jurisdiction in which the debt is being paid.