Technology and Economic Theory
Technology and technological change play a central role in economics, whether in the theory of resource allocation or in the theory of growth and development. Yet the nature of technology is largely ignored in economic theory, it being considered sufficient to treat technology as a constraint on productive opportunities. This short essay delves a little deeper into the nature of technology and the material, energy and information transformation processes that it represents. A deeper understanding of technology leads to a deeper understanding of the main currents of technological advance and to the reasons why the development of technology and its application are so uneven over time and place.
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- Metcalfe, J S, 2001. "Institutions and Progress," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 561-586, September.
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"A Microeconomic Approach to Induced Innovation,"
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- J. Stanley Metcalfe, 2007. "Alfred Marshall and the General Theory of Evolutionary Economics," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 15(1), pages 81-110.
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- Moses Abramovitz, 1956. "Resource and Output Trends in the United States Since 1870," NBER Books, National Bureau of Economic Research, Inc, number abra56-1, October.
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- Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
- Moses Abramovitz, 1956. "Resource and Output Trends in the United States Since 1870," NBER Chapters,in: Resource and Output Trends in the United States Since 1870, pages 1-23 National Bureau of Economic Research, Inc.
- Hicks, J. R., 1987. "Capital and Time: A Neo-Austrian Theory," OUP Catalogue, Oxford University Press, number 9780198772866. Full references (including those not matched with items on IDEAS)
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