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Are All Technological Improvements Beneficial? Absolutely Not

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  • Yochanan Shachmurove

    ()
    (Department of Economicss and Business, The City College and Graduate Center of the City University of New York)

  • Uriel Spiegel

    ()
    (Department of Management, Bar Ilan University and Department of Economics, University of Pennsylvania)

Abstract

This paper shows, using a simple model, that wasteful innovations may result in a loss-loss situation where no country experiences an increase in welfare. If some countries introduce innovations that result in harmful effects on other countries, it may cause the adversely affected countries to retaliate by imposing impediments to international trade. In a globalized and integrated World economy, such policies can only harm the countries involved. Thus, it is in both countries' best interest to encourage sustainable coordination between policies in order to better their own citizens, as well as the World's aggregate welfare.

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Bibliographic Info

Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 13-027.

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Length: 39 pages
Date of creation: 19 Jun 2013
Date of revision:
Handle: RePEc:pen:papers:13-027

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Keywords: International Trade; Samuelson; Gainers and Losers from Trade; Technological Improvements; Concealed Technological Improvements; Pareto Improvements in Production and Consumption; Nash Bargaining Process; Sleeping Patents; Rest of the World; Terms of Trade; Distributive Justice; China; United States.;

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  1. Lipsey, Richard G. & Carlaw, Kenneth I. & Bekar, Clifford T., 2005. "Economic Transformations: General Purpose Technologies and Long-Term Economic Growth," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780199290895, October.
  2. Lars Schwettmann, 2012. "Competing allocation principles: time for compromise?," Theory and Decision, Springer, Springer, vol. 73(3), pages 357-380, September.
  3. C├ęsar Mattos, 2007. "Vertical Foreclosure In Telecommunications In The Long Run: Full Interconnection Quality Foreclosure X Sleeping Patents," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 527-549.
  4. Andy Heughebaert & Sophie Manigart, 2012. "Firm Valuation in Venture Capital Financing Rounds: The Role of Investor Bargaining Power," Journal of Business Finance & Accounting, Wiley Blackwell, Wiley Blackwell, vol. 39(3-4), pages 500-530, 04.
  5. Holger Seebens & Johannes Sauer, 2007. "Bargaining power and efficiency-rural households in Ethiopia," Journal of International Development, John Wiley & Sons, Ltd., vol. 19(7), pages 895-918.
  6. Deepak Nayyar, 2006. "Globalisation, history and development: a tale of two centuries," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 30(1), pages 137-159, January.
  7. Kutsoati, Edward & Zabojnik, Jan, 2005. "The effects of learning-by-doing on product innovation by a durable good monopolist," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 23(1-2), pages 83-108, February.
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