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Technology and Economic Theory

  • Stan Metcalfe
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    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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    Paper provided by Philipps University Marburg, Department of Geography in its series Papers on Economics and Evolution with number 2009-09.

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    Date of creation: Aug 2009
    Date of revision:
    Handle: RePEc:esi:evopap:2009-09
    Contact details of provider: Postal: Deutschhausstrasse 10, 35032 Marburg
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    Web page: http://www.uni-marburg.de/fb19/
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    1. Binswanger, Hans P., 1974. "A Microeconomic Approach To Induced Innovation," Staff Papers 14152, University of Minnesota, Department of Applied Economics.
    2. repec:cup:cbooks:9780521378598 is not listed on IDEAS
    3. Metcalfe, J S, 2001. "Institutions and Progress," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 561-86, September.
    4. Rosenberg, Nathan, 1974. "Science, Invention and Economic Growth," Economic Journal, Royal Economic Society, vol. 84(333), pages 90-108, March.
    5. Antonelli, Cristiano, 2001. "The Microeconomics of Technological Systems," OUP Catalogue, Oxford University Press, number 9780199245536, March.
    6. Langlois, Richard N & Foss, Nicolai J, 1999. "Capabilities and Governance: The Rebirth of Production in the Theory of Economic Organization," Kyklos, Wiley Blackwell, vol. 52(2), pages 201-18.
    7. 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.
    8. 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.
    9. Hicks, J. R., 1987. "Capital and Time: A Neo-Austrian Theory," OUP Catalogue, Oxford University Press, number 9780198772866, March.
    10. 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.
    11. 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.
    12. Kuznets, Simon, 1977. "Two Centuries of Economic Growth: Reflections on U.S. Experience," American Economic Review, American Economic Association, vol. 67(1), pages 1-14, February.
    13. repec:cup:cbooks:9780521443258 is not listed on IDEAS
    14. repec:cup:cbooks:9780521096720 is not listed on IDEAS
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