Are we living in the middle of an Industrial Revolution?
AbstractThe concept of a new Industrial Revolution has recently become of great interest to general economists of all persuasions. For example, the New Growth Theory has placed renewed emphasis on the importance of technological change in modern economic growth, and a number of authors have suggested that we are entering a new period of technological advances that could profoundly affect the world economy. ; In an article based on comments at the Tenth District Monetary Policy Roundtable, Mr. Mokyr looks at the events of our time in relation to events of the British Industrial Revolution. He cautions that the temptation to look at the past to guide us in making predictions and policy recommendations should be resisted. Historical analogies often mislead as much as they instruct, and in technological progress, where change is unpredictable, cumulative, and irreversible, the analogies are more dangerous than anywhere.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Kansas City in its journal Economic Review.
Volume (Year): (1997)
Issue (Month): Q II ()
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- Gordon, Robert J, 2000.
"Does the 'New Economy' Measure up to the Great Inventions of the Past?,"
CEPR Discussion Papers
2607, C.E.P.R. Discussion Papers.
- Robert J. Gordon, 2000. "Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 49-74, Fall.
- Robert J. Gordon, 2000. "Does the "New Economy" Measure up to the Great Inventions of the Past?," NBER Working Papers 7833, National Bureau of Economic Research, Inc.
- Wolfgang Gerstenberger & Klaus-Heiner Röhl & Heinz Schmalholz & Andrea Szalavetz & Michaela Votteler, 2003. "Analyse der außenwirtschaftlichen Beziehungen zwischen Ungarn und Sachsen/Ostdeutschland : Kooperationspotenziale im Bereich der Informations- und Kommunikationswirtschaft ; Gutachten im Auftrag des ," ifo Dresden Studien, Ifo Institute for Economic Research at the University of Munich, number 34.
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