Joel Mokyr
- Published in print:
- 1992
- Published Online:
- October 2011
- ISBN:
- 9780195074772
- eISBN:
- 9780199854981
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195074772.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses the search for the causes of technological progress. It observes that, in the past ten years, a veritable revolution has occurred in a wide variety of fields, from genetic ...
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This chapter discusses the search for the causes of technological progress. It observes that, in the past ten years, a veritable revolution has occurred in a wide variety of fields, from genetic engineering to consumer electronics. The chapter notes that the essence of technological progress is its unpredictability, and that nothing in the historical record seems to indicate that the creation of new technological opportunities—as opposed to their exploitation—is subject to diminishing returns, fatigue, old age, or exhaustion. It opines that if Cardwell's Law can be extrapolated into the future, no single society should expect to be on the cutting edge of technology forever. As Schumpeter stressed, the enemy of technological progress was not the lack of useful new ideas, but the social forces that, for one reason or another, tried to preserve the status quo.Less
This chapter discusses the search for the causes of technological progress. It observes that, in the past ten years, a veritable revolution has occurred in a wide variety of fields, from genetic engineering to consumer electronics. The chapter notes that the essence of technological progress is its unpredictability, and that nothing in the historical record seems to indicate that the creation of new technological opportunities—as opposed to their exploitation—is subject to diminishing returns, fatigue, old age, or exhaustion. It opines that if Cardwell's Law can be extrapolated into the future, no single society should expect to be on the cutting edge of technology forever. As Schumpeter stressed, the enemy of technological progress was not the lack of useful new ideas, but the social forces that, for one reason or another, tried to preserve the status quo.
Richard M. Goodwin
- Published in print:
- 1990
- Published Online:
- November 2003
- ISBN:
- 9780198283355
- eISBN:
- 9780191596315
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198283350.003.0002
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical ...
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Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical progress—hampered classical models. A discrete time model is proposed with corn production embedded in a wider economy. The model has a chaotic attractor, and highly erratic market dynamics follow even in the absence of exogenous shocks.Less
Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical progress—hampered classical models. A discrete time model is proposed with corn production embedded in a wider economy. The model has a chaotic attractor, and highly erratic market dynamics follow even in the absence of exogenous shocks.
Joel Mokyr
- Published in print:
- 1992
- Published Online:
- October 2011
- ISBN:
- 9780195074772
- eISBN:
- 9780199854981
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195074772.003.0011
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter focuses at the dynamics of technological change. It specifically asks whether technological change occurs in leaps and bounds, or whether it takes place gradually and continuously. The ...
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This chapter focuses at the dynamics of technological change. It specifically asks whether technological change occurs in leaps and bounds, or whether it takes place gradually and continuously. The chapter sets up an analogy between technological progress and biological evolution, and tries to apply the concept of punctuated equilibrium to the analysis of technology. It observes that one concept that has been employed in the economics of growth is the steady state, a form of growth which is itself constant and predictable, and thus can be regarded as a dynamic equivalent to the concept of equilibrium. The chapter opines that it would seem natural to think of the steady state as an evolutionary process.Less
This chapter focuses at the dynamics of technological change. It specifically asks whether technological change occurs in leaps and bounds, or whether it takes place gradually and continuously. The chapter sets up an analogy between technological progress and biological evolution, and tries to apply the concept of punctuated equilibrium to the analysis of technology. It observes that one concept that has been employed in the economics of growth is the steady state, a form of growth which is itself constant and predictable, and thus can be regarded as a dynamic equivalent to the concept of equilibrium. The chapter opines that it would seem natural to think of the steady state as an evolutionary process.
Wilfred Beckerman and Joanna Pasek
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199245086
- eISBN:
- 9780191598784
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199245088.003.0006
- Subject:
- Political Science, Environmental Politics
This chapter leaves the ‘safe’ world of philosophical speculation and turns to the dangerous world of economic prediction. It outlines the economic reasons for believing that, in the very long ...
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This chapter leaves the ‘safe’ world of philosophical speculation and turns to the dangerous world of economic prediction. It outlines the economic reasons for believing that, in the very long term—i.e. abstracting from cyclical or other transitory fluctuations in economic activity—future generations will be incomparably richer than people today. Reasons are also given for believing that there will be no significant obstacles to future growth on account of popularly feared environmental developments, such as running out of ‘finite’ resources, or climate change.Less
This chapter leaves the ‘safe’ world of philosophical speculation and turns to the dangerous world of economic prediction. It outlines the economic reasons for believing that, in the very long term—i.e. abstracting from cyclical or other transitory fluctuations in economic activity—future generations will be incomparably richer than people today. Reasons are also given for believing that there will be no significant obstacles to future growth on account of popularly feared environmental developments, such as running out of ‘finite’ resources, or climate change.
Andrew Newell
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199212668
- eISBN:
- 9780191712807
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199212668.003.0003
- Subject:
- Economics and Finance, Financial Economics
This chapter presents and analyses the major structural changes, in terms of industry and occupation, that took place in the British labour market over the 20th century. The engine driving these ...
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This chapter presents and analyses the major structural changes, in terms of industry and occupation, that took place in the British labour market over the 20th century. The engine driving these changes was technological progress, which completely transformed the occupations, industries, hours of work, and most of all, the standard of living of British workers.Less
This chapter presents and analyses the major structural changes, in terms of industry and occupation, that took place in the British labour market over the 20th century. The engine driving these changes was technological progress, which completely transformed the occupations, industries, hours of work, and most of all, the standard of living of British workers.
Richard S. Rosenbloom and Clayton M. Christensen
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198290964
- eISBN:
- 9780191596162
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198290969.003.0007
- Subject:
- Economics and Finance, Microeconomics
Innovations based on radically new technologies are believed to create advantages for entrants over incumbents in the relevant markets. This essay asks under what circumstances this is true, and to ...
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Innovations based on radically new technologies are believed to create advantages for entrants over incumbents in the relevant markets. This essay asks under what circumstances this is true, and to what extent do the disadvantages of incumbent firms stem from their failure to make timely commitments to new capabilities and new strategies as opposed to their inability to implement those commitments effectively. These questions are explored in relation to recent literature in economics and organization theory, and the concept of the ‘value network’ is introduced. Historical evidence suggests that entrants find greatest advantage when innovations disrupt established trajectories of technological progress, a circumstance that is associated with moves to new value networks. The incumbent's disadvantage, hence, seems to be associated with an inability to change strategies rather than technologies.Less
Innovations based on radically new technologies are believed to create advantages for entrants over incumbents in the relevant markets. This essay asks under what circumstances this is true, and to what extent do the disadvantages of incumbent firms stem from their failure to make timely commitments to new capabilities and new strategies as opposed to their inability to implement those commitments effectively. These questions are explored in relation to recent literature in economics and organization theory, and the concept of the ‘value network’ is introduced. Historical evidence suggests that entrants find greatest advantage when innovations disrupt established trajectories of technological progress, a circumstance that is associated with moves to new value networks. The incumbent's disadvantage, hence, seems to be associated with an inability to change strategies rather than technologies.
Joel Mokyr
- Published in print:
- 1992
- Published Online:
- October 2011
- ISBN:
- 9780195074772
- eISBN:
- 9780199854981
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195074772.003.0005
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses the technological progress in the Industrial Revolution, usually dated between about 1750 and 1830. It notes that although Britain is frequently thought of as its locus, a ...
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This chapter discusses the technological progress in the Industrial Revolution, usually dated between about 1750 and 1830. It notes that although Britain is frequently thought of as its locus, a large part of the new technology was the result of work done in other European countries and, later, in the United States. The chapter observes that the fruits of the Industrial Revolution were slow in coming, and that although per capita consumption and living standards increased little initially, production technologies changed dramatically in many industries and sectors, which prepared the way for sustained Schumpeterian growth in the second half of the nineteenth century, when technological progress spread to previously unaffected industries. It examines the technological changes during this period occurring in four main groups, namely: power technology, metallurgy, textiles, and a miscellaneous category of other industries and services.Less
This chapter discusses the technological progress in the Industrial Revolution, usually dated between about 1750 and 1830. It notes that although Britain is frequently thought of as its locus, a large part of the new technology was the result of work done in other European countries and, later, in the United States. The chapter observes that the fruits of the Industrial Revolution were slow in coming, and that although per capita consumption and living standards increased little initially, production technologies changed dramatically in many industries and sectors, which prepared the way for sustained Schumpeterian growth in the second half of the nineteenth century, when technological progress spread to previously unaffected industries. It examines the technological changes during this period occurring in four main groups, namely: power technology, metallurgy, textiles, and a miscellaneous category of other industries and services.
Hiroyuki Odagiri and Akira Goto
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198288022
- eISBN:
- 9780191684555
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198288022.003.0003
- Subject:
- Economics and Finance, South and East Asia
Japan's economy after World War II was devastated. Its manufacturing industry fell sharply and the food supply dropped by up to 51%. Inflation was high and the money supply was out of control. ...
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Japan's economy after World War II was devastated. Its manufacturing industry fell sharply and the food supply dropped by up to 51%. Inflation was high and the money supply was out of control. Several policies were implemented to help Japan's economy to recover. These include the Priority Production Policy, which provided subsidies to manufacturing firms, especially to the coal and steel industries. Price control was implemented to ease the effect of inflation. Japan's economy started to recover between the 1950s and early 1970s, with the economy growing by around 10% annually. The technological development of Japan lagged after World War II; the country coped by importing machinery and equipment, hiring American consultants, buying inventions, and sending top engineers abroad.Less
Japan's economy after World War II was devastated. Its manufacturing industry fell sharply and the food supply dropped by up to 51%. Inflation was high and the money supply was out of control. Several policies were implemented to help Japan's economy to recover. These include the Priority Production Policy, which provided subsidies to manufacturing firms, especially to the coal and steel industries. Price control was implemented to ease the effect of inflation. Japan's economy started to recover between the 1950s and early 1970s, with the economy growing by around 10% annually. The technological development of Japan lagged after World War II; the country coped by importing machinery and equipment, hiring American consultants, buying inventions, and sending top engineers abroad.
Hiroyuki Odagiri and Akira Goto
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198288022
- eISBN:
- 9780191684555
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198288022.003.0001
- Subject:
- Economics and Finance, South and East Asia
This introductory chapter discusess the issue that will be addressed in the book. It enumerates the reasons that could explain how the economy, industry, and business developed in the past decade. ...
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This introductory chapter discusess the issue that will be addressed in the book. It enumerates the reasons that could explain how the economy, industry, and business developed in the past decade. One of these is the new growth theory or the endogenous growth theory, which states that technological progress is a major force in economic development. The second reason is the evolutionary theory proposed by Nelson and Winter. This suggests that capabilities and decision rules determine the performance of a firm and the performance of the industry. The chapter also discusses the technological situation of the Japanese and how they acquired their technology and capabilities.Less
This introductory chapter discusess the issue that will be addressed in the book. It enumerates the reasons that could explain how the economy, industry, and business developed in the past decade. One of these is the new growth theory or the endogenous growth theory, which states that technological progress is a major force in economic development. The second reason is the evolutionary theory proposed by Nelson and Winter. This suggests that capabilities and decision rules determine the performance of a firm and the performance of the industry. The chapter also discusses the technological situation of the Japanese and how they acquired their technology and capabilities.
Patrick Artus
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198292111
- eISBN:
- 9780191596537
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292112.003.0006
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Microeconomics
Endogenous growth theory has been developed in order to overcome the unsatisfactory features of neo‐classical growth models. These models give richer explanations of empirical facts and are able to ...
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Endogenous growth theory has been developed in order to overcome the unsatisfactory features of neo‐classical growth models. These models give richer explanations of empirical facts and are able to account for differences in growth rates between countries. The author argues that although considerable progress has been made on theoretical models, much is yet to be done empirically to define and isolate the explanatory factors of growth.Less
Endogenous growth theory has been developed in order to overcome the unsatisfactory features of neo‐classical growth models. These models give richer explanations of empirical facts and are able to account for differences in growth rates between countries. The author argues that although considerable progress has been made on theoretical models, much is yet to be done empirically to define and isolate the explanatory factors of growth.
SERGIO REBELO
- Published in print:
- 2001
- Published Online:
- October 2011
- ISBN:
- 9780199243983
- eISBN:
- 9780191697319
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199243983.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
One of the most active fields of research in economics over the last fifteen years includes the determination of the forces which affect the economic growth rate. While researchers have already been ...
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One of the most active fields of research in economics over the last fifteen years includes the determination of the forces which affect the economic growth rate. While researchers have already been able to come up with several different models of gaining sustained growth even without the exogenous growth in productivity, research is still ongoing for variables that may be correlated with growth performance in the different versions of the Summers and Heston data set or simply the business cycles. It was found that a certain agent would be willing to sacrifice a portion of his consumption in exchange for living in an economy that experiences a faster growth rate. This chapter looks into the evolution of various growth models, specifically the neoclassical growth model, and examine how human capital and the state of technology should be incorporated in models of endogenous technological progress.Less
One of the most active fields of research in economics over the last fifteen years includes the determination of the forces which affect the economic growth rate. While researchers have already been able to come up with several different models of gaining sustained growth even without the exogenous growth in productivity, research is still ongoing for variables that may be correlated with growth performance in the different versions of the Summers and Heston data set or simply the business cycles. It was found that a certain agent would be willing to sacrifice a portion of his consumption in exchange for living in an economy that experiences a faster growth rate. This chapter looks into the evolution of various growth models, specifically the neoclassical growth model, and examine how human capital and the state of technology should be incorporated in models of endogenous technological progress.
Pietro Garibaldi, Joaquim Oliveira Martins, and Jan van Ours (eds)
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199587131
- eISBN:
- 9780191595370
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199587131.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
The increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in ...
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The increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in Europe and in the United States. This progress has outpaced the most optimistic scenarios and documented that demographic projections are no more reliable than economic forecasts. This book looks closely into those challenges, raising a few fundamental issues at both the macroeconomic and microeconomic levels. Among these: is it possible to turn the challenges faced by ageing and longevity into a long‐term productive opportunity? Can advanced economies engineer a healthy ageing scenario with long‐term spillovers in terms of enhanced technological progress and acceleration of long‐term growth? What is the microeconomic relationship between ageing and productivity, and how can specific policies postpone any age‐related decay in productivity at the firm and individual levels?Less
The increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in Europe and in the United States. This progress has outpaced the most optimistic scenarios and documented that demographic projections are no more reliable than economic forecasts. This book looks closely into those challenges, raising a few fundamental issues at both the macroeconomic and microeconomic levels. Among these: is it possible to turn the challenges faced by ageing and longevity into a long‐term productive opportunity? Can advanced economies engineer a healthy ageing scenario with long‐term spillovers in terms of enhanced technological progress and acceleration of long‐term growth? What is the microeconomic relationship between ageing and productivity, and how can specific policies postpone any age‐related decay in productivity at the firm and individual levels?
Şevket Pamuk
- Published in print:
- 2018
- Published Online:
- May 2019
- ISBN:
- 9780691166377
- eISBN:
- 9780691184982
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691166377.003.0002
- Subject:
- Economics and Finance, Economic History
This chapter examines the trends in economic growth and human development in Turkey during the last two centuries. Economists have learned a great deal about modern economic growth since the end of ...
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This chapter examines the trends in economic growth and human development in Turkey during the last two centuries. Economists have learned a great deal about modern economic growth since the end of World War II. The large and growing literature has emphasized that increases in productivity, achieved through technological progress on the one hand, and increases in per capita physical capital and education levels, on the other, were the most important factors contributing to economic growth. In addition, the labor force is much better educated than in 1820. In short, technological change and higher rates of investment in both physical and human capital are seen today as the leading proximate causes of economic growth since the Industrial Revolution.Less
This chapter examines the trends in economic growth and human development in Turkey during the last two centuries. Economists have learned a great deal about modern economic growth since the end of World War II. The large and growing literature has emphasized that increases in productivity, achieved through technological progress on the one hand, and increases in per capita physical capital and education levels, on the other, were the most important factors contributing to economic growth. In addition, the labor force is much better educated than in 1820. In short, technological change and higher rates of investment in both physical and human capital are seen today as the leading proximate causes of economic growth since the Industrial Revolution.
Paul U. Unschuld
- Published in print:
- 2009
- Published Online:
- May 2012
- ISBN:
- 9780520257658
- eISBN:
- 9780520944701
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520257658.003.0012
- Subject:
- Anthropology, Medical Anthropology
This chapter discusses various aspects that are shared by and various differences between the two medical traditions of East and West. Constant efforts by researchers, naturalists, and clinically ...
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This chapter discusses various aspects that are shared by and various differences between the two medical traditions of East and West. Constant efforts by researchers, naturalists, and clinically practicing physicians in direct contact with patients has led to continuously better insights. The source of differences between the medical traditions in the East and West is the differences arising from religious and cultural distinctiveness. In China as in Europe, there have always been diverse groups subscribing to different ideas about the causes of illness and how to prevent or treat illness. It is assumed that the biological foundations of intelligence exist to the same extent in all civilizations. It is also assumed that the biological foundations of illness and health are almost identical everywhere. There is an evidence of minor differences such as in the endowment of enzymes in various populations that lead to variations in the tolerance of milk products or alcohol.Less
This chapter discusses various aspects that are shared by and various differences between the two medical traditions of East and West. Constant efforts by researchers, naturalists, and clinically practicing physicians in direct contact with patients has led to continuously better insights. The source of differences between the medical traditions in the East and West is the differences arising from religious and cultural distinctiveness. In China as in Europe, there have always been diverse groups subscribing to different ideas about the causes of illness and how to prevent or treat illness. It is assumed that the biological foundations of intelligence exist to the same extent in all civilizations. It is also assumed that the biological foundations of illness and health are almost identical everywhere. There is an evidence of minor differences such as in the endowment of enzymes in various populations that lead to variations in the tolerance of milk products or alcohol.
Robert B. Archibald and David H. Feldman
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199744503
- eISBN:
- 9780199866168
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199744503.003.0001
- Subject:
- Economics and Finance, Financial Economics
This chapter introduces the subject matter and the mode of analysis in the book. This chapter explains why costs and prices are quite different at colleges and universities. The way one thinks about ...
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This chapter introduces the subject matter and the mode of analysis in the book. This chapter explains why costs and prices are quite different at colleges and universities. The way one thinks about changes in college costs and college prices depends on where one sits. In particular, a close-up view focused exclusively on colleges and universities will lead to quite different conclusions than an aerial view that places colleges and universities in a broader economy-wide perspective. This chapter explains why the book adopts the aerial view rather than a close-up view. The chapter ends with a preview of the results in the remainder of the book, emphasizing the critical role of technological progress. The pace of technological progress and the type of technological progress have significant influences on college costs and prices.Less
This chapter introduces the subject matter and the mode of analysis in the book. This chapter explains why costs and prices are quite different at colleges and universities. The way one thinks about changes in college costs and college prices depends on where one sits. In particular, a close-up view focused exclusively on colleges and universities will lead to quite different conclusions than an aerial view that places colleges and universities in a broader economy-wide perspective. This chapter explains why the book adopts the aerial view rather than a close-up view. The chapter ends with a preview of the results in the remainder of the book, emphasizing the critical role of technological progress. The pace of technological progress and the type of technological progress have significant influences on college costs and prices.
Robert B. Archibald and David H. Feldman
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199744503
- eISBN:
- 9780199866168
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199744503.003.0004
- Subject:
- Economics and Finance, Financial Economics
Higher education prices have evolved over time in a manner quite similar to other service industries that rely heavily on highly educated workers, and quite differently from the time paths of prices ...
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Higher education prices have evolved over time in a manner quite similar to other service industries that rely heavily on highly educated workers, and quite differently from the time paths of prices in other service industries. As Claudia Goldin and Lawrence Katz explain, the returns to education are the result of a race between technological progress that increases the demand for highly educated workers and educational attainment that increases the supply. Beginning in the late 1970s, a slowdown in the growth of educational attainment helped fuel a dramatic increase in the wages of highly skilled workers. Any explanation of the rising cost of college attendance must incorporate as part of the story this shift in the income distribution in favor of the well educated.Less
Higher education prices have evolved over time in a manner quite similar to other service industries that rely heavily on highly educated workers, and quite differently from the time paths of prices in other service industries. As Claudia Goldin and Lawrence Katz explain, the returns to education are the result of a race between technological progress that increases the demand for highly educated workers and educational attainment that increases the supply. Beginning in the late 1970s, a slowdown in the growth of educational attainment helped fuel a dramatic increase in the wages of highly skilled workers. Any explanation of the rising cost of college attendance must incorporate as part of the story this shift in the income distribution in favor of the well educated.
Davide Fiaschi and Tamara Fioroni
Matteo Cervellati and Uwe Sunde (eds)
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780262036627
- eISBN:
- 9780262341660
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262036627.003.0005
- Subject:
- Economics and Finance, Economic History
This chapter explores the role of increased adult longevity and technological progress in the transition from Malthusian equilibrium to modern growth. Empirical evidence suggests a general upward ...
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This chapter explores the role of increased adult longevity and technological progress in the transition from Malthusian equilibrium to modern growth. Empirical evidence suggests a general upward trend in life expectancy at birth and in adult survival rate of countries and a positive correlation between these two variables and income. A first strand of literature investigates the causes of mortality decline in western countries. Scholars can be divided into two main groups: the first attributes the observed mortality decline mainly to income growth via better nutrition, and the second emphasizes the role of public health and sanitary intervention. Meanwhile, a second strand of literature explores various channels through which mortality decline affects income.Less
This chapter explores the role of increased adult longevity and technological progress in the transition from Malthusian equilibrium to modern growth. Empirical evidence suggests a general upward trend in life expectancy at birth and in adult survival rate of countries and a positive correlation between these two variables and income. A first strand of literature investigates the causes of mortality decline in western countries. Scholars can be divided into two main groups: the first attributes the observed mortality decline mainly to income growth via better nutrition, and the second emphasizes the role of public health and sanitary intervention. Meanwhile, a second strand of literature explores various channels through which mortality decline affects income.
Daran Acemoglu
- Published in print:
- 2012
- Published Online:
- February 2013
- ISBN:
- 9780226473031
- eISBN:
- 9780226473062
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226473062.003.0010
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses the relationship between innovation and incumbency, but places emphasis on a dynamic setting that incorporates not simply the rate but also the direction of innovative ...
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This chapter discusses the relationship between innovation and incumbency, but places emphasis on a dynamic setting that incorporates not simply the rate but also the direction of innovative activity: an environment where there are multiple potential “research lines,” but only one is commercially active at any point in time. There is a chance that the commercially active research line will at some point be made obsolete (e.g., as the result of exhausting a natural resource), and the chapter focuses on the underlying incentives to invest in the alternative (but not yet commercially viable) technology line. Because the returns from innovation are only realized for those generations where the research line is commercially active, the private returns to innovation in the alternative line will be low unless there is a high likelihood that the currently active line is about to made obsolete.Less
This chapter discusses the relationship between innovation and incumbency, but places emphasis on a dynamic setting that incorporates not simply the rate but also the direction of innovative activity: an environment where there are multiple potential “research lines,” but only one is commercially active at any point in time. There is a chance that the commercially active research line will at some point be made obsolete (e.g., as the result of exhausting a natural resource), and the chapter focuses on the underlying incentives to invest in the alternative (but not yet commercially viable) technology line. Because the returns from innovation are only realized for those generations where the research line is commercially active, the private returns to innovation in the alternative line will be low unless there is a high likelihood that the currently active line is about to made obsolete.
Dipankar Dasgupta
- Published in print:
- 2010
- Published Online:
- October 2012
- ISBN:
- 9780198069966
- eISBN:
- 9780199080458
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198069966.003.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
An increase in the annual growth rate of a country’s real per capita gross domestic product (GDP) is, to a large extent, an indication of improvement in the standard of living. Most nations which are ...
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An increase in the annual growth rate of a country’s real per capita gross domestic product (GDP) is, to a large extent, an indication of improvement in the standard of living. Most nations which are reasonably progressive based on social indicators exhibit substantially large values of real per capita GDP. Economists try to come up with theories to explain why the real GDP rises significantly over time. The explanations centre around supply and demand, two of the most basic tools of economic analysis. This chapter discusses growth economics and growth theory, command economy and private economy, investment, and technological progress.Less
An increase in the annual growth rate of a country’s real per capita gross domestic product (GDP) is, to a large extent, an indication of improvement in the standard of living. Most nations which are reasonably progressive based on social indicators exhibit substantially large values of real per capita GDP. Economists try to come up with theories to explain why the real GDP rises significantly over time. The explanations centre around supply and demand, two of the most basic tools of economic analysis. This chapter discusses growth economics and growth theory, command economy and private economy, investment, and technological progress.
Beth E. Levy
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780520267763
- eISBN:
- 9780520952027
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520267763.003.0006
- Subject:
- Music, History, American
This chapter explores the pastoral soundtracks of two distinctly midwestern works: one by Leo Sowerby and one by Lukas Foss, both inspired by Carl Sandburg's poem “The Prairie.” Like Virgil Thomson's ...
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This chapter explores the pastoral soundtracks of two distinctly midwestern works: one by Leo Sowerby and one by Lukas Foss, both inspired by Carl Sandburg's poem “The Prairie.” Like Virgil Thomson's soundtrack for The Plow That Broke the Plains, each departs from Arcadian pastorals by making conflict a central theme. And taken together, they can be seen to chronicle the impact of technological “progress” on western land that was, despite all previous mythmaking, not very well suited to the family farm. The tensions which shatter the operatic households of Aaron Copland's The Tender Land, Douglas Moore's Giants in the Earth, and Ernst Bacon's Tree on the Plains suggest that even a healthy crop of folk song cannot sustain domestic harmony in the face of personal and national maturation. No matter how pastoral, these prairie landscapes were not idyllic and never timeless.Less
This chapter explores the pastoral soundtracks of two distinctly midwestern works: one by Leo Sowerby and one by Lukas Foss, both inspired by Carl Sandburg's poem “The Prairie.” Like Virgil Thomson's soundtrack for The Plow That Broke the Plains, each departs from Arcadian pastorals by making conflict a central theme. And taken together, they can be seen to chronicle the impact of technological “progress” on western land that was, despite all previous mythmaking, not very well suited to the family farm. The tensions which shatter the operatic households of Aaron Copland's The Tender Land, Douglas Moore's Giants in the Earth, and Ernst Bacon's Tree on the Plains suggest that even a healthy crop of folk song cannot sustain domestic harmony in the face of personal and national maturation. No matter how pastoral, these prairie landscapes were not idyllic and never timeless.
