Favorites of fortune: technology, growth, and economic development since the Industrial Revolution
A galaxy of distinguished international economists and historians pit economic history against the shaky assumptions of the classical economic theory of natural growth. Their explanations consider the factors of technology, entrepreneurialism, and paths to economic growth, but each reflects an ideological wave of explanation that has marked the last two hundred years.
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Using the Laspeyres index corresponds to assuming the isoquant through xa is
Leontief, while using the geometric corresponds to assuming it is Cobb-Douglas.
Table 7.2 shows the formulas for computing the technical inefficiency and input ...
Cobb-Douglas specification is chosen, this result provides further justification for
calling w'-j^/w'-jc3 a measure of price efficiency. The Efficiency of the British Iron
and Steel Industry in 1907 Let us use the nonoptimizing model to assess the ...
The Cobb-Douglas specification also shows it technically inefficient, but the
Leontief specification shows Britain technically superior to the American steel
industry. What can one make of these inconsistent results? Figure 7.3 plots the
Co říkají ostatní - Napsat recenzi
On Technology and Growth
Paul A David The Hero and the Herd in Technological
Rudolf Braun The Docile Body as an Economic1ndustrial
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