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This paper explores the pattern of technical change in the Korean economy from 1970 to 2013 and investigates its determinants. We use the Classical growth-distribution schedule to show that the labor-saving and capital-using pattern has predominated. For the rationale behind this Marx-biased technical change, we focus on the relationship between technical change and real wage growth via the evolution of labor and capital productivity, and verify the historical direction of technical change against the rise and fall of the working class. Furthermore, we find that the deviation during the post-crisis period from the long-run trend of Marx-biased technical change is not attributable to the vitality of new technological innovations, but rather the reflection of class dynamics over extracting productivity under weaker capital deepening. The results suggest that the recent deterioration of labor share and labor unions in Korea is closely associated with low incentive for technological progress, which contributes to prolonged stagnation.

World economies including India have been moving toward recession. To combat this recession more employment generation through investment is required in a highly populated economy like India. Since unorganized manufacturing enterprises (UMEs) provide employment to a huge mass in India, therefore its growth and productivity is a matter of concern in the Indian economy. The present study analyzes the growth and productivity of UMEs on the basis of the latest two rounds of NSSO unit level data incorporating all states and union territories (UTs) of India. It reveals that the growth of UMEs, employment, gross value added (GVA) and fixed assets widely varied across states/UTs, and these growth rates were substantially high in a number of states during 2010–11 and 2015–16. In most of the states/UTs the labor productivity of UMEs has increased significantly but not the capital productivity. Our analysis supports the theoretical relationship among growth of employment, GVA, and labor productivity. Therefore, the government has to make deliberate attempts to increase the growth of UMEs on one side and raise productivities of UMEs through skill developments on the other side to overcome the problem of unemployment in particular and expedite the growth of the Indian economy in general to combat the global economic recession.

This article provides a detailed investigation of how Lewis revisited classical and Marxian concepts such as productive/unproductive labor, economic surplus, subsistence wages, reserve army, and capital accumulation in his investigation of economic development. The Lewis 1954 development model is compared to other models advanced at the time by Harrod, Domar, Swan, Kaldor, Solow, von Neumann, Nurkse, Rosenstein-Rodan, Myint, and others. Lewis applied the notion of economic duality to open and closed economies.