The Concepts of Ricardian, Keynesian and Schumpeterian Adjustments and the Question of Employment in the Brazilian Economy
The aim of this paper is to discuss the relationship between economic growth,
technical progress and employment generation, using Neo-schumpeterian concepts about
the process of adjustments available to all economies. It discusses the possible trade-offs
among the three kinds of the most important adjustments — “Ricardian “, “growth” and
“Schumpeterian” — which represent, in fact, trade-offs between short and long-term growth.
Based on this conception, it discusses the possible impacts of the exploration of each kind
of adjustment on the Brazilian level of employment. In addition, it preliminarily identifies
the productive segments to be stimulated in order to simultaneously consider economic efficiency
and employment generation. The main conclusion is that to associate employment
generation, economic growth and modernization, the Brazilian economy should invest not only in the most dynamic segments of the new technological paradigm, but also in the traditional
segments, because they have a higher employment generation capacity.
JEL Classification: O40; O30; J81.
Keywords: Economic development neo-Schumpeterian analysis structural change quality of employment