What was the upper ceiling to the productivity gains growth

Reference no: EM131952637

Problem

How did "Smithian Development" relate to "Power Gains through Coal Use" during theIndustrial Revolution in England? What was the upper ceiling to the productivity gains andeconomic growth that could be achieved through "Smithian Development"? Can you think ofplaces in a modern economy (be specific about which one) where Smithian Development ismore important than the application of increased hydrocarbon power?

Reference no: EM131952637

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