Modern economic growth started in the West in the early nineteenth century. This survey discusses the precise connection between the Industrial Revolution and the beginnings of growth, and connects it to the intellectual and economic factors underlying the growth of useful knowledge. The...

Studies find that technological change has contributed to the decline in manufacturing and to persistent unemployment in many advanced economies. While process innovation can be job-destroying, product innovation can imply the emergence of new firms, new sectors, and thus new jobs. But even for...