Ict: The Industrial Revolution That Wasn't
Raises doubt about the validity of the impending "Third Industrial Revolution" based on information and communications technology. Shows using basic science that information, unlike energy, is not physically productive, raising serious doubts over the ability of ICT to raise the standard of living.
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19th century Alfred Marshall American Economic Review animate argue automation capital and labor ceteris paribus Chapter classical political economists coal computers conventionally-defined Dale Jorgenson defined developments distribution domestic system E-O approach Economic Growth Economics of Abundance electric drive electric power consumption electrification enabling technology energy consumption energy deepening example factor input factory system fire power growth accounting horsepower ICT revolution inanimate energy increased innovations Japanese manufacturing kilowatts labor productivity looms lower-level supervisors machine machinery markets material processes mechanical model of production muscular nature neoclassical political economy output elasticities output growth Owen Paleolithic percent period political economy problem of underincome production function production processes production theory productivity growth Purpose Technologies ratio referred relevant result Ricardo Robert Owen Robert Solow role of energy scarcity second industrial revolution second-law efficiency Smith Solow Specifically steam engine steam power steam turbine supervision Technocracy thermodynamic efficiency thermodynamics U.S. manufacturing wages workers