Technological Progress, Mobility, and Economic Growth
AbstractThis paper analyzes the relationship between technological progress, wage inequality, intergenerational earnings mobility, and economic growth. In periods of major technological inventions, a decline in the relative importance of initial conditions raises inequality, enhances mobility, and generates a larger concentration of high-ability individuals in technologically advanced sectors, stimulating future technological progress and growth. However, once technologies become more accessible, mobility is diminished and inequality decreases but becomes more persistent. The reduction in the concentration of ability in technologically advanced sectors diminishes the likelihood of technological breakthroughs and slows future growth. User friendliness, therefore, becomes unfriendly to future economic growth. Copyright 1997 by American Economic Association.
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 87 (1997)
Issue (Month): 3 (June)
Other versions of this item:
- Galor, Oded & Tsiddon, Daniel, 1996. "Technological Progress, Mobility, and Economic Growth," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1413, C.E.P.R. Discussion Papers.
- Galor, O. & Tsiddon, D., 1996. "Technological Progress, Mobility and Economic Growth," Papers, Tel Aviv 13-96, Tel Aviv.
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
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