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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What mattered was venture capital, not aggregate savings. 2. The rate of
accumulation depended crucially on the rate of profit. In the simplest model, in
which factory owners could not borrow and had to rely on retained profits to
finance new ...
Given no change in capital, land, or technology in either of the two sectors, it
follows that profits in industry would have risen by ABHC — an increase in their
producers' surplus, and rents (or, more likely, farmers' profits) in agriculture would
First mover profits soared. By the late 1890s, when Carnegie's costs had fallen to
$1 1 .25 a ton, rail prices had dropped from $18.75 in 1897 to $17.63 in 1898.
Carnegie's profits rose from $7 million in 1897 to $11 million in 1898. Then in
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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