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CO-WINNER OF THE 2006 SCHUMPETER PRIZE FOR THE BEST WRITING ON EVOLUTIONARY ECONOMICS IN THE LAST TWO YEARS
Economic Transformations
General Purpose Technologies and Long-Term Economic Growth
Richard G. Lipsey, Kenneth I. Carlaw, and Clifford T. Bekar
656 pages
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Numerous line drawings
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234x156mm
978-0-19-929089-5
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Paperback
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03 November 2005
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- First book to examine General Purpose Technologies (GPTs) in any detail and to relate them to economic growth over the long term
- Uniquely combines historical analysis, descriptive studies, and formal modelling in one book
- Builds material established in the authors' historical studies of GPTs into formal models of GPT-driven growth
- Mathematics self-contained in boxes and appendices with verbal descriptions throughout to appeal those who find mathematical formulations off putting
This book examines the long term economic growth that has raised the West's material living standards to levels undreamed of by counterparts in any previous time or place. The authors argue that this growth has been driven by technological revolutions that have periodically transformed the West's economic, social and political landscape over the last 10,000 years and allowed the West to become, until recently, the world's only dominant technological force.
Unique in the diversity of the analytical techniques used, the book begins with a
discussion of the causes and consequences of economic growth and technological change. The authors argue that long term economic growth is largely driven by pervasive technologies now known as General Purpose (GPTs). They establish an alternative to the standard growth models that use an aggregate production function and then introduce the concept of GPTs, complete with a study of how these technologies have transformed the West since the Neolithic Agricultural Revolution. Early modern science is given more importance than in most other treatments and the 19th century demographic revolution is studied with a combination of formal models of population dynamics and historical analysis.
The authors argue that once sustained growth was established in the West, formal
models can shed much light on its subsequent behaviour. They build non-conventional, dynamic, non-stationary equilibrium models of GPT-driven growth that incorporate a range of phenomena that their historical studies show to be important but which are excluded from other GPT models in the interests of analytical tractability. The book concludes with a study of the policy implications that follow from their unique approach. Readership: Economists, economic historians, and other academics interested in growth, technological change, and the emergence of sustained growth in the West; graduate students, and undergraduates completing courses on economic growth
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Richard G. Lipsey, Emeritus Professor of Economics, Simon Fraser University, Kenneth I. Carlaw, Senior Lecturer, University of Canterbury, and Clifford T. Bekar, Associate Professor of Economics, Lewis and Clark College
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Foreword: The Canadian Institute for Advanced Research and this Book
Preface: Why Another Book on Growth?
Acknowledgements
GROWTH, TECHNOLOGICAL CHANGE AND GENERAL PURPOSE TECHNOLOGIES
1: Technology as Revolution
2: Two Views of Economic Processes
3: A Structuralist Evolutionary Decomposition
4: Technology and Technological Change
5: · A Survey of GPTs in Western History: Part I 10,000 BC to 1450 AD
6: A Survey Of GPTs in Western History: Part II 1450 to 2010
THE TRANSITION TO SUSTAINED GROWTH
7: The Emergence of Sustained Extensive Growth in the West
8: Why Not Elsewhere?
9: Population Dynamics: Extensive and Intensive Growth Related
10: The Emergence of Sustained Intensive Growth in the West
MODELLING SUSTAINED GPT-DRIVEN GROWTH
11: · GPTs and Related Concepts in the Literature
12: Scale Economies in Economic Growth
13: : Appreciative Theories of GPTs
14: Formal Models Of GPT-Driven Sustained Growth: The Base Line Model
15: · Formal Models of GPT-Driven Sustained Growth: Extensions and Applications
POLICY
16: Technology Enhancement Policy: Theory and Evidence
17: Assessing Technology Enhancement Policies
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