While radical technological change is often characterized as hazardous, particularly to incumbents, incremental technological change has appeared to be immune from such risks. Little attention has been given to the possibility that under some circumstances incremental technological change can be...

An economy benefits from advances in technical frontiers only when new technology comes into general use. This paper measures the diffusion of computing equipment at a time when computing technology underwent dramatic technical improvement. These data shed light on the long lag between advances...