April 20, 2010

Technological inertia

Joel Mokyr, “Technological inertia in economic history”

Technological progress needs a “conducive social environment.”
But there is also social resistance to progress.

Adam Smith – the economy is not created by human beings but is a self-organising system.  Self-organising systems resist change.

Theoretical framework for Mokyr:
Public choice;
Political economy
Evolutionary theory
Systems analysis

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