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On Productivity Growth


  • H. Gürak


Capitalism’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. In this paper, H. Gürak 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, gives occasion to a dynamic and uninterrupted growth process, but technology itself is the product of mental labor. In support of this assertion, a simple model of growth based on productive knowledge (creativity of mind) is introduced in the final section of full-text article titled "Creative Intelligence and Productive Knowledge".

Suggested Citation

  • H. Gürak, 2004. "On Productivity Growth," GE, Growth, Math methods 0403001, EconWPA.
  • Handle: RePEc:wpa:wuwpge:0403001
    Note: Type of Document - Word.doc; prepared on Win 2000; pages: 14; figures: 2

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    References listed on IDEAS

    1. Ronald E. Gangnon & William N. King, 2002. "Minimum distance estimation of the distribution functions of stochastically ordered random variables," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 51(4), pages 485-492.
    2. Hadar, Josef & Russell, William R, 1969. "Rules for Ordering Uncertain Prospects," American Economic Review, American Economic Association, vol. 59(1), pages 25-34, March.
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    Cited by:

    1. Amavilah, Voxi Heinrich, 2007. "The effects of technology-as-knowledge on the economic performance of developing countries: An econometric analysis using annual publications data for Botswana, Namibia, and South Africa, 1976-2004," MPRA Paper 3482, University Library of Munich, Germany.

    More about this item


    Growth-Productivity-Human Capital-Labor Power;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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