F
Fabian Society (P2)
Founded in 1883 by Edith Nesbit and Hubert Bland to promote socialism. It contributed to the ideological development of the UK Labour Party and had as its earliest members Beatrice and Sidney Webb and George Bernard Shaw. In its many pamphlets on economic and related issues it has advocated gradualist, rather than revolutionary, socialism.
factor-augmenting technical progress (O2)
Technical progress arising from an increase in factor PRODUCTIVITY in the absence of an increase in the stock of capital or the size of the labour force.
factor cost (D0)
- The cost of employing a FACTOR OF PRODUCTION.
- A method of valuing the NATIONAL INCOME. This valuation at factor cost excludes indirect taxes, is net of subsidies and indicates ...
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