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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Wage gaps and rural labor surpluses would seem to imply insufficient migration
and labor market failure. They also imply that urban labor was too expensive and
thus that city growth was too slow. Alternatively, they imply capital market failure ...
Nor were the constraints on city growth limited to labor market failure. Figure 13.2
also tells us who gains and who loses from the labor market failure. With the
disappearance of wage gaps, and with the emigration of labor from agriculture, ...
(Williamson 1990, chap. 8). Table 13.6 reports the results: it assesses the impact
of an elimination of labor market failure (the 1831 real wage gap of 33.2 percent
is allowed to disappear), and of an elimination of the capital market failure (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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