Technological Foundations of Cyclical Economic Growth: The Case of the United States Economy

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Nathan Edmonson

Technological Foundations of Cyclical Economic Growth

The Case of the United States Economy

Nathan Edmonson

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English

Routledge
06 October 2017

Economic growth; Industrial applications of scientific research & technological innovation

New technology is intimately associated with increased economic growth. The tools people have and when they acquired them tells us much about cyclical patterns of growth. Those interested in encouraging economic growth would do well to look to the conditions that spur the origins, development, and impact of technology - as well as the circumstances that spur prolific periods of invention, the mother of technology.

Despite general recognition of the connection between technology and growth, economists rarely have gotten to the heart of the relationship. Joseph Schumpeter and John Hicks were aware of the role of technology in cyclical variability, but their thoughts were not elaborated upon after they passed from the scene. Nathan Edmonson goes beyond formal theory, reviewing the record of economic growth and the role of technology in this growth.

What does the technology future hold? One clue is where past prototype inventions that that have fomented massive technological innovations have come from. Some parts of the private sector, such as Bell Labs, have been important. The government, particularly in its sponsorship of defense related research, has delivered a number of inventions. Universities are very much in the picture in certain fields, such as nanotechnology. The challenges we face at the onset of the twenty-first century are covered in depth and with imagination by Edmonson. The book will spur much rethinking about economic futures.

By: Nathan Edmonson
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 229mm, Width: 152mm,
Weight: 453g
ISBN: 9781138515253
ISBN 10: 1138515256
Pages: 369
Publication Date: 06 October 2017
Audience: College/higher education , General/trade , Primary , ELT Advanced
Format: Paperback
Publisher's Status: Active

Nathan Edmonson