Habakkuk thesis

Etymology
Proposed by (1915–2002), British economic historian, in his 1962 work American and British Technology in the Nineteenth Century: The Search for Labour-Saving Inventions.

Proper noun

 * 1)  The theory that land abundance and labor scarcity in the 19th-century United States led to high wages, which resulted in labor-saving technological innovations and the development of the  based on the extensive use of machinery and interchangeable parts.