Technology, Growth Theory, and the First Industrial Revolution
Öz
In the 21st century, growth theorists have ambitiously extended the limits of what need to be understood into preindustrial times without renouncing sound microeconomic foundations, and growth theory has become irreversibly historical. This paper argues that much progress could be achieved if the frontier of growth theory is extended with a richer understanding of ideas, knowledge, and technology. The paper first defends the strong relevance of second-generation Schumpeterian models to the first Industrial Revolution. It then presents an evaluation of Mokyr’s (2002) non-mathematical theory of useful knowledge by identifying the main postulates of this theory that may illuminate Schumpeterian models of the first Industrial Revolution. The paper concludes with a discussion of three methodological obstacles that prevent immediate progress in this trajectory of inquiry.
Anahtar Kelimeler
Unified Growth Theory, economic history, Schumpeterian growth, useful knowledge, endogenous technology
Destekleyen Kurum
none
Proje Numarası
none
Teşekkür
This paper has been presented at the 2018 workshop of the Turkish Initiative for Economic Thought on “Economics and History.” I am grateful to Derya Güler Aydın, Hüseyin Özel, and other members of the Initiative for their helpful comments and suggestions. The paper has also been presented at the 2020 Econ-Turkey Conference. I wish to thank the conference participants for their valuable feedback. Finally, I wish to thank Sencer Karademir who has provided excellent research assistance. All of the remaining errors are of my own.
Kaynakça
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