Policies for technological advance, Microeconomics

Assignment Help:

Policies for Technological Advance

Without better technology, increases in capital stock generated by investment rapidly run into diminishing returns. And without improvements in 'technologies' of government, organization and education, productivity stagnates.

Somewhat unexpectedly, economists have relatively little to say about what governs technological progress. Why did better technology raise living standards by 2% yearly a generation before though by less than 1% today? Why did technology progress by only 0.25% per year in the early 1800s? Improving literacy, research, and communications and development can help explain faster progress since than before industrial revolution and faster progress in twentieth than in the nineteenth century. Yet as significant a feature of recent economic history as the post-1973 productivity slowdown remains largely a mystery.

 


Related Discussions:- Policies for technological advance

Educational financing, Normal 0 false false false EN-IN...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Multiplant monopoly, #suppose EEPCO is amultiplant monopolist with two pla...

#suppose EEPCO is amultiplant monopolist with two plants: Gibe plant and Fincha plant. The operating costs of the two plants are: Gibe plant Tc1=10Q^2 and Fincha plant TC2=20Q^2.

National income determination, National Income Determination: National...

National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter

Production possibilities curve, how to look a graph in different kind of pp...

how to look a graph in different kind of ppc in the graph when we see

Williamson’s Model of Managerial Discretion , equilibrium output and prince...

equilibrium output and prince is determined in williamson model of managerial discretion ?

#ttitl derivation of demand funcation, derivation of demand funcation usin...

derivation of demand funcation using indifferance curv ordelreay and competed demand curv

What is demographic transition, What is demographic transition In the w...

What is demographic transition In the world today not all nations have gone through their demographic transitions. Many countries today aren't rich enough to have begun populat

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd