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Latest advertising and marketing and promoting news for Journey & Leisure, including insights and opinions. One of many ideas that has all the time fascinated me is the notion that cheap labor reduces the incentive for labor-saving innovation. That is the Robert Allen idea of the Industrial Revolution – excessive wages and cheap capital pressured British businesspeople to start utilizing machines, which then opened up a bonanza of innovation. It additionally pops up in just a few econ models occasionally.
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