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Historical Perspective of the Role of Technology in Economic Development

Author

Listed:
  • Jurica Šimurina

    () (Faculty of Economics and Business, University of Zagreb)

  • Josip Tica

    () (Faculty of Economics and Business, Unviersity of Zagreb)

Abstract

The focus of this paper is to investigate technology changes and influence on economies since the First Industrial Revolution. The First Industrial Revolution was the first point in time when both increase of GDP per capita and population occurred at the same time (avoiding the Malthusian trap). Thus the selected point in time. Furthermore, developments of the late 18th and 19th centuries have some common properties with development of new technologies today. Even though the process of technological change changed during this time, there are still some lessons to be learned from distant and near history on how to gauge policies for fostering successful technological advances. Changes that occurred are relevant for respective economies, industries, companies and individuals. On all these levels changes occurred that were unprecedented in history before the First Industrial Revolution. It is not suggested that technological progress of centuries before the First Industrial Revolution was insignificant, but it certainly did not have such a profound impact in all areas of human life and existence.

Suggested Citation

  • Jurica Šimurina & Josip Tica, 2006. "Historical Perspective of the Role of Technology in Economic Development," EFZG Working Papers Series 0610, Faculty of Economics and Business, University of Zagreb.
  • Handle: RePEc:zag:wpaper:0610
    as

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    File URL: http://web.efzg.hr/RePEc/pdf/Clanak%2006-10.pdf
    File Function: First version, 2006
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    References listed on IDEAS

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    1. Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December.
    2. Young, Alwyn, 1993. "Invention and Bounded Learning by Doing," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 443-472, June.
    3. Crafts, Nicholas F R, 1996. "The First Industrial Revolution: A Guided Tour for Growth Economists," American Economic Review, American Economic Association, vol. 86(2), pages 197-201, May.
    4. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
    5. Lewis, Frank D., 1979. "Explaining the Shift of Labor from Agriculture to Industry in the United States: 1869 to 1899," The Journal of Economic History, Cambridge University Press, vol. 39(03), pages 681-698, September.
    6. Crafts, N. F. R. & Mills, Terence C., 1997. "Endogenous Innovation, Trend Growth, and the British Industrial Revolution: Reply to Greasley and Oxley," The Journal of Economic History, Cambridge University Press, vol. 57(04), pages 950-956, December.
    7. Nicholas Crafts, 1998. "Forging Ahead and Falling Behind: The Rise and Relative Decline of the First Industrial Nation," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 193-210, Spring.
    8. Parente, Stephen L & Prescott, Edward C, 1994. "Barriers to Technology Adoption and Development," Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 298-321, April.
    9. Crafts, N. F. R., 1995. "Exogenous or Endogenous Growth? The Industrial Revolution Reconsidered," The Journal of Economic History, Cambridge University Press, vol. 55(04), pages 745-772, December.
    10. Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953, January.
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    12. Nelson, Richard R & Wright, Gavin, 1992. "The Rise and Fall of American Technological Leadership: The Postwar Era in Historical Perspective," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 1931-1964, December.
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    Cited by:

    1. Ron W. NIELSEN, 2016. "Industrial Revolution did not Boost Economic Growth and the Growth of Population even in the United Kingdom," Journal of Economics Bibliography, KSP Journals, vol. 3(4), pages 577-589, December.

    More about this item

    Keywords

    development; economic history; technology;

    JEL classification:

    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative

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