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General Purpose Technologies Author info | Abstract | Publisher info | Download info | Related research | Statistics Boyan Jovanovic
Peter L. Rousseau
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Electricity and Information Technology (IT) are perhaps the two most important general purpose technologies (GPTs) to date. We analyze how the U.S. economy reacted to them. The Electricity and IT eras are similar, but also differ in several important ways. Electrification was more broadly adopted, whereas IT seems to be technologically more "revolutionary." The productivity slowdown is stronger in the IT era but the ongoing spread of IT and its continuing precipitous price decline are reasons for optimism about growth in the 21st century.
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Paper Chapter Jovanovic, Boyan & Rousseau, Peter L., 2005.
"General Purpose Technologies ,"
Handbook of Economic Growth ,
in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 18, pages 1181-1224
Elsevier.
[Downloadable!] (restricted) Find related papers by JEL classification: O3 - Economic Development, Technological Change, and Growth - - Technological Change N2 - Economic History - - Financial Markets and Institutions
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