| Author: | Ayres, R. U. |
| Title: | Technology : the wealth of nations. |
| Journal: | Technological Forecasting and Social Change
1988 : MAY, VOL. 33:3, p. 189-201 |
| Index terms: | TECHNOLOGICAL INNOVATION ECONOMIC GROWTH EQUILIBRIUM THEORY |
| Language: | eng |
| Abstract: | One of the most pernicious and profoundly wrong ideas still extant is that wealth, like gold, is physical in nature and fixed in quantity. The major new conclusion is the most straightforward implication of the fact that wealth is mainly derived from technological innovation today. The identification of condensed useful information, or knowledge, as the common element from which raw materials, labor, and capital are all created by different processes is of fundamental importance. It is that if the major source of societal wealth today is technology, a better theory to explain the various underlying processes is urgent. |
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