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General Purpose Technologies and Economic Growth by Elhanan Helpman Pdf
Traditionally, economists have considered the accumulation of conventional inputs such as labour and capital to be the primary force behind economic growth. In the late-1990s however, many economists place technological progress at the centre of the growth process. This shift is due to theoretical developments that allow researchers to link microeconomic outcomes.
Economic Transformations by Richard G. Lipsey,Kenneth I. Carlaw,Clifford T. Bekar Pdf
This book examines the long term economic growth that has raised the West's material living standards to levels undreamed of by counterparts in any previous time or place. The authors argue that this growth has been driven by technological revolutions that have periodically transformed the West's economic, social and political landscape over the last 10,000 years and allowed the West to become, until recently, the world's only dominant technological force. Unique in the diversity of the analytical techniques used, the book begins with a discussion of the causes and consequences of economic growth and technological change. The authors argue that long term economic growth is largely driven by pervasive technologies now known as General Purpose (GPTs). They establish an alternative to the standard growth models that use an aggregate production function and then introduce the concept of GPTs, complete with a study of how these technologies have transformed the West since the Neolithic Agricultural Revolution. Early modern science is given more importance than in most other treatments and the 19th century demographic revolution is studied with a combination of formal models of population dynamics and historical analysis. The authors argue that once sustained growth was established in the West, formal models can shed much light on its subsequent behaviour. They build non-conventional, dynamic, non-stationary equilibrium models of GPT-driven growth that incorporate a range of phenomena that their historical studies show to be important but which are excluded from other GPT models in the interests of analytical tractability. The book concludes with a study of the policy implications that follow from their unique approach.
Is War Necessary for Economic Growth? by Vernon W. Ruttan Pdf
Military and defense-related procurement has been an important source of technology development across a broad spectrum of industries that account for an important share of United States industrial production. In this book, the author focuses on six general-purpose technologies: interchangeable parts and mass production; military and commercial aircraft; nuclear energy and electric power; computers and semiconductors; the INTERNET; and the space industries. In each of these industries, technology development would have occurred more slowly, and in some case much more slowly or not at all, in the absence of military and defense-related procurement. The book addresses three questions that have significant implications for the future growth of the United States economy. One is whether changes in the structure of the United States economy and of the defense-industrial base preclude military and defense-related procurement from playing the role in the development of advanced technology in the future, comparable to the role it has played in the past. A second question is whether public support for commercially oriented research and development will become an important source of new general-purpose technologies. A third and more disturbing question is whether a major war, or the threat of major war, will be necessary to mobilize the scientific, technical, and financial resources necessary to induce the development of new general-purpose technologies. When the history of United States technology development in the next half century is written, it will focus on incremental rather than revolutionary changes in both military and commercial technology. It will also be written within the context of slower productivity growth than of the relatively high rates that prevailed in the United States in the 1950s and 1960s or during the information technology bubble that began in the early 1990s. These will impose severe constraints on the capacity of the United States to sustain a global-class military posture and a position of leadership in the global economy.
The Economics of Artificial Intelligence by Ajay Agrawal,Joshua Gans,Avi Goldfarb,Catherine Tucker Pdf
A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.
Economic Transformations by Richard G. Lipsey,Kenneth Carlaw,Clifford Bekar Pdf
This book examines the long term economic growth that has raised the West's material living standards to levels undreamed of by counterparts in any previous time or place. The authors argue that this growth has been driven by technological revolutions that have periodically transformed the West's economic, social and political landscape over the last 10,000 years and allowed the West to become, until recently, the world's only dominant technological force. Unique in the diversity of the analytical techniques used, the book begins with a discussion of the causes and consequences of economic growth and technological change. The authors argue that long term economic growth is largely driven by pervasive technologies now known as General Purpose (GPTs).
The Fourth Industrial Revolution by Klaus Schwab Pdf
World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress.
Artificial Intelligence by Harvard Business Review Pdf
Companies that don't use AI to their advantage will soon be left behind. Artificial intelligence and machine learning will drive a massive reshaping of the economy and society. What should you and your company be doing right now to ensure that your business is poised for success? These articles by AI experts and consultants will help you understand today's essential thinking on what AI is capable of now, how to adopt it in your organization, and how the technology is likely to evolve in the near future. Artificial Intelligence: The Insights You Need from Harvard Business Review will help you spearhead important conversations, get going on the right AI initiatives for your company, and capitalize on the opportunity of the machine intelligence revolution. Catch up on current topics and deepen your understanding of them with the Insights You Need series from Harvard Business Review. Featuring some of HBR's best and most recent thinking, Insights You Need titles are both a primer on today's most pressing issues and an extension of the conversation, with interesting research, interviews, case studies, and practical ideas to help you explore how a particular issue will impact your company and what it will mean for you and your business.
Technological Systems and Industrial Dynamics by B. Carlsson Pdf
This volume consitutes a summary of several years' multi-disciplinary research by a group of Swedish researchers. The project 'Sweden's Technological Systems and Future Development Potential' was initiated by the Swedish National Board for Industrial and Technical Development (NUTEK) and has been carried out at the Department of Industrial Management and Economics at Chalmers University of Technology in Gothenburg, the Research Policy Institute at the University of Lund, the Industrial Institute for Economic and Social Research (lUI) in Stockholm, and the Department of Industrial Economics and Management at the Royal Insitute of Technology, Stockholm, under the direction of Bo Carlsson, Case Western Reserve University, Cleveland, Ohio. The project group decided early on to focus fIrst on the technological system for factory automation - a relatively mature system of great importance to Swedish industry and in which Sweden has reached a leading position internationally - and then to shift the attention to other systems in various stages of development and with varying Swedish strength. The work on factory automation resulted in numerous papers and publications, summarized in a volume published in 1995 (Technological Systems and Economic Performance: The Case of Factory Automation, ed. Bo Carlsson. Dordrecht.
The Role of Innovation and Entrepreneurship in Economic Growth by Michael J Andrews,Aaron Chatterji,Josh Lerner,Scott Stern Pdf
"Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--
Organisation for Economic Co-operation and Development
Author : Organisation for Economic Co-operation and Development Publisher : Organisation for Economic Co-operation and Development ; Washington, D.C. : OECD Publication and Information Center Page : 600 pages File Size : 41,7 Mb Release : 1991 Category : Capital productivity ISBN : UCSD:31822007625619
Innovation and Growth in the Global Economy by Gene M. Grossman,Elhanan Helpman Pdf
Grossman and Helpman develop a unique approach in which innovation is viewed as a deliberate outgrowth of investments in industrial research by forward-looking, profit-seeking agents. Traditional growth theory emphasizes the incentives for capital accumulation rather than technological progress. Innovation is treated as an exogenous process or a by-product of investment in machinery and equipment. Grossman and Helpman develop a unique approach in which innovation is viewed as a deliberate outgrowth of investments in industrial research by forward-looking, profit-seeking agents.
Innovation and Economic Development by Mario Cimoli,Andre A. Hofman,Nanno Mulder Pdf
This book is the fruit of the research ECLAC has amassed, with ten chapters detailing the great strides that have been made of late in ICT. A distinguishing feature of this book is its multi-disciplinary approach to measuring the economic effects of these technologies, which incorporates the neo-classical growth accounting approach and the evolutionarystructuralistapproach. These approaches are noteworthy because, much like the primary message of ECLAC, they exemplify the pivotal importance of technical progress, productivity and structural transformation in economic growth. Innovation and Economic Development identifies several opportunities and challenges for bringing about a more dynamic role of ICT in the process of structural change and productivity growth and contends that accelerating the adoption and efficient use of ICT is essential to any strategy for further success.
Productivity, Technology and Economic Growth by Bart van Ark,Simon K. Kuipers,Gerard H. Kuper Pdf
Productivity, Technology and Economic Growth presents a selection of recent research advances on long term economic growth. While the contributions stem from both economic history, macro- and microeconomics and the economics of innovation, all papers depart from a common viewpoint: the key factor behind long term growth is productivity, and the latter is primarily driven by technological change. Most contributions show implicitly or explicitly that technological change is at least partly dependent on growth itself. Furthermore, technology appears to interact strongly with investment in physical and human capital as well as with changes in historical, political and institutional settings. Together these papers are an up-to-date account of the remarkable convergence in theoretical and empirical work on productivity and growth over the past decades. The first part deals with the characteristics of growth regimes over longer periods, ranging from 20 years to two centuries. The next four chapters study the determinants of productivity growth and, in some cases, productivity slowdown during the last quarter of the twentieth century. The final five chapters focus on the role of technology and innovation as the key determinants of growth. Productivity, Technology and Economic Growth is, therefore, a welcome collection for academic scholars and graduate students in economics, history and related social sciences as well as for policy makers.
The Economics and Econometrics of Innovation by David Encaoua,Bronwyn H. Hall,François Laisney,Jacques Mairesse Pdf
During the past few decades, the interest of economists in the sources of long-term economic growth has led an increasing number of them to focus on the role of innovation in creating that growth. Although some researchers have always been interested in this topic, the groundbreaking work of Solow (1957), Nelson (1959) and Arrow (1962) made many other economists recognize the central role played by innovation in almost all spheres of economic activity. The Economics and Econometrics of Innovation presents a valuable overview of the work of the world's most renowned experts in the field of innovation and technical change. It collects 22 outstanding contributions that reflect the results of the vast, worldwide research efforts and remind us of the importance of economic incentives in shaping and directing innovative activities. The volume presents an edited selection of papers that were first presented at the 10th International ADRES conference. One particular goal of this book is to bring out the complementary nature of the various approaches to innovation, and to facilitate in-depth dialogues both between microeconomists and macroeconomists, and between theoreticians and econometricians. General topics that are considered range from the economy-wide effects of innovation on growth and employment to the variation of individual firm innovative performance; from the analysis of networks and standardization to the role of intellectual property rights and the assessment of knowledge spillovers. Besides the wealth of information presented in the chapters, readers of this volume will also appreciate the value of examining a single question from different angles and by using different methods.
Permissionless Innovation: The Continuing Case for Comprehensive Technological Freedom by Adam Thierer Pdf
Will innovators be forced to seek the blessing of public officials before they develop and deploy new devices and services, or will they be generally left free to experiment with new technologies and business models? In this book, Adam Thierer argues that if the former disposition, “the precautionary principle,” trumps the latter, “permissionless innovation,” the result will be fewer services, lower-quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living. When public policy is shaped by “precautionary principle” reasoning, it poses a serious threat to technological progress, economic entrepreneurialism, and long-run prosperity. By contrast, permissionless innovation has fueled the success of the Internet and much of the modern tech economy in recent years, and it is set to power the next great industrial revolution—if we let it.
