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Economic phenomena are interrelated. From a growth perspective, time analysis concerning the choices of present and future consumption and the choices between the allocation of scientific resources should be combined with a space analysis regarding the dissemination of economic activity through...
Persistent link: https://www.econbiz.de/10005124884
It is assumed that performance of production system can be described with the three variables: amount of production equipment -- capital stock $K$ and 'consumption' of labour L and capital services S. It is shown that the production function can be specified as the known Cobb- Douglas production...
Persistent link: https://www.econbiz.de/10005134973
We may distinguish between two concepts of technology: a theoretical level of technology (that is, a technology … possibilities frontier) and a level of technology in practice (that is, ready to use in production technology). Having these two … the implementation of technology to productive uses. There is a trade-off between the two technology variables and we …
Persistent link: https://www.econbiz.de/10005408275
the advancement of macroeconomics as a science. This Editorial is to appear at the front of the first issue of that …
Persistent link: https://www.econbiz.de/10005126416
use advocacy. For example, 2/3 of the papers published in a sampling of issues of Management Science (1955-1976) used …
Persistent link: https://www.econbiz.de/10005119408
resources are alternatively allocated to basic science activities and to applied technology uses. We find that saddle path …, to choose how to allocate technological inputs. A technology choices model is developed, where scarce scientific … objective function, that is, for a second-order Taylor series approximation of a felicity function regarding technology …
Persistent link: https://www.econbiz.de/10005124964
The relations between the riches of nations and the riches of Productive Knowledge (Technology) gains increasing … production, i.e., technology or productive knowledge, gives occasion to a dynamic and uninterrupted growth process, but … technology itself is the product of mental labor. In support of this assertion, a simple model of growth based on productive …
Persistent link: https://www.econbiz.de/10005125665
workers. The paper shows technology has played the dominant role in changing employment patterns in Australia. The finding is …
Persistent link: https://www.econbiz.de/10005125725
After decades of slow growth since Independence from the British Raj, Indian economy registered its own small miracle, when growth rate of GDP per capita surpassed the long term growth rate of many advanced economies. What caused this miracle? In this paper, we search for an answer in the...
Persistent link: https://www.econbiz.de/10005126360
The diffusion of modern, efficient technology has far-reaching consequences for the geography of economic activity … favorable to the rapid spread of new technology. The first states that latecomer advantage allows developing countries to … diffuse new technology faster than developed countries. The second claim, widely articulated by advocates of neo …
Persistent link: https://www.econbiz.de/10005062437