CREATIVE INTELLIGENCE & PRODUCTIVE KNOWLEDGE (Technology)
AbstractCapitalism’s inherent feature is “destructive creation”, said Marx. Decades later, in a similar fashion, Schumpeter stated that “Capitalist system incessantly revolutionizes the economic structure FROM WITHIN”. What are those dynamic forces causing the incessant changes in an economy? According to P. Drucker, A. Toffler, Baumol-McLennan and many others it is the productivity increases (growth) in general. P. Romer provides a more specific reply: technological change or the growth of new ideas. This paper goes deeper to the core and claims that all technological changes are produced by the intellectual labor of human mind. In other words, knowledge on production, i.e., technology or productive knowledge provides the premises and gives occasion to a dynamic and uninterrupted growth process, but technology itself is the product of mental labor. There is practically no limit to growth in the long-run since there is no limit to human creativity. The creative intellectual human labor is capable of incessantly introducing new technologies which transform (rearrange) the natural resources into so called capital and consumer goods. As long as human intellectual labor can produce new ideas, the growth will be assured and sustained, as well as, quite likely, cyclical.
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Bibliographic InfoPaper provided by EconWPA in its series GE, Growth, Math methods with number 0508001.
Length: 41 pages
Date of creation: 09 Aug 2005
Date of revision:
Note: Type of Document - doc; pages: 41. A non-conventional analysis.
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Creative intelligence; mental labor; growth; technology; technological change.;
Find related papers by JEL classification:
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D9 - Microeconomics - - Intertemporal Choice and Growth
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