In the previous chapter we focused primarily on macroeconomic theories relevant to growth, and secondarily on the role of technology in those theories. In this chapter we reverse the emphasis, focusing on technology and technical progress as such. It must be acknowledged that, although we by no means exclude social technologies and institutional changes from consideration, our discussion hereafter is almost exclusively focused on physical technologies. This bias is due to the fact that it is far more difficult to define a social technology precisely, still less measure its performance in quantitative terms, than it is for a physical technology. However, we assume that most of the general conclusions of this chapter are equally applicable to social technologies as well as to the physical technologies presented here from which most of our examples are taken.

Trash Cash Machine

Trash Cash Machine

How recyclable trash can save the world and bank us huge profits! Get All The Support And Guidance You Need To Be A Success At Recycling! This Book Is One Of The Most Valuable Resources In The World When It Comes To How To Make Profits With Trash!

Get My Free Ebook

Post a comment