Machine generated contents note: Foreword by Sir John Templeton -- Author's Introduction -- Acknowledgments -- Chapter 1 Making Tracks: The Industrial Revolution, -- Canals, and Railways -- Chapter 2 Breaking Out: The Story of the U.S. Railroads -- Chapter 3 Investing at the Speed of Sound: --...

We study optimal investment in technologies characterized by the learning curve. There are two investment patterns depending on the shape of the learning curve. If the learning process is slow, firms invest relatively late and on a larger scale. If the curve is steep, firms invest earlier and on...

We estimate the effects of technology investments on the demand for skilled workers using longitudinally integrated employer-employee data from the U.S. Census Bureau's Longitudinal Employer-Household Dynamics Program infrastructure files spanning two Economic Censuses (1992 and 1997). We...