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| Author: | Altman, M. |
| Title: | Human agency as a determinant of material welfare |
| Journal: | Journal of Socio-Economics
1993 : FALL, VOL. 22:3, p. 199-218 |
| Index terms: | WELFARE ECONOMIC CONDITIONS TECHNOLOGY |
| Language: | eng |
| Abstract: | Standard economic theory, which assumes that economic agents behave x-efficiently, precludes human agency as an important variable in determining the level of material welfare. But when the quantity and quality of effort involved in the production process is a choice variable, human agency and its particular determinants must play critical roles in affecting the economy. Human agency affects material welfare by affecting not only the efficiency of production but also the extent and the rate of technical change. |
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