Economic Theory

Download e-book for iPad: Technology and the Pursuit of Economic Growth by David C. Mowery

By David C. Mowery

ISBN-10: 0521389364

ISBN-13: 9780521389365

Technology's contribution to monetary progress and competitiveness has been the topic of lively debate lately. This booklet demonstrates the significance of a ancient point of view in figuring out the position of technological innovation within the economic system. The authors study key episodes and associations within the improvement of the U.S. study process and within the improvement of the examine structures of different commercial economies. They argue that the big capability contributions of economics to the knowledge of expertise and financial development were restricted through the slender theoretical framework hired inside of neoclassical economies. A richer framework, they think, will aid a extra fruitful discussion between economists, policymakers, and bosses at the association of private and non-private associations for innovation. David Mowery is affiliate Professor of commercial and Public coverage on the institution of commercial management, collage of California, Berkeley. Nathan S. Rosenberg is Fairleigh Dickinson Professor of Economics at Stanford college. he's the writer of contained in the Black field: know-how and Economics (CUP, 1983).

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Rather, a rapidly growing and industrializing economy encountered all sorts of situations in newly emerging technologies where further improvement and progress required drawing on the existing fund of scientific knowledge. Although a number of laboratories had been established by 1900, even well after that date industrial research laboratories were not yet performing activities that should be regarded as research. Rather, they were engaged in a variety of routine and elementary tasks such as the grading and testing of materials, assaying, quality control, and writing of specifications.

At that exhibition they exhibited tools made of this steel, in use in a heavy and powerful lathe, taking heavy cuts at unheard of speeds - 80, 90, or 100 feet per minute, instead of the 18 to 22 feet per minute that previously had been the maximum for heavy cuts in hard material" ("Metal-working Machinery," in Special Reports of the Census Office, 1905, Part IV, p. 232). 34 The institutional structure, 1860-1940 shaped technological innovation requires that attention be given to the interactive relationship between those two sets offerees, as well as a recognition that the technological needs of a rapidly expanding industrial society were often satisfied by very simple science, rather than by knowledge at the forefront of scientific research.

1965, p. 309; see also O'Neill, 1965). Well into the twentieth century, metallurgy was a sector in which the technologist typically "got there first," developing powerful new technologies in advance of systematic guidance by science. The technologist demanded a scientific explanation from the scientist of certain properties or performance characteristics. Such technological breakthroughs as Taylor and Whites development of high-speed steel (1898), and the subsequent development, in the 1920s, of sintered tungsten carbide, are classic instances of technological improvements that preceded and gave rise to scientific research.

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Technology and the Pursuit of Economic Growth by David C. Mowery

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