As Time Goes By: From the Industrial Revolutions to the Information RevolutionHow can we best understand the impact of revolutionary technologies on the business cycle, the economy, and society? Why is economics meaningless without history and without an understanding of institutional and technical change? Does the 'new economy' mean the 'end of history'?an we best understand the impact of revolutionary technologies on business organization and the business cycle? These are some of the questions addressed in this authoritative analysis of modern economic growth from the Industrial Revolution to the 'New Economy' of today. Chris Freeman has been one of the foremost researchers on innovation for a long time and his colleague Francisco Louçã is an outstanding historian of economic theory and an analyst of econometric models and methods. Together they chart the history of five technological revolutions: water-powered mechanization, steam-powered mechanization, electrification, motorization, and computerization. They demonstrate the necessity to take account of politics, culture, organizational change, and entrepreneurship, as well as science and technology in the analysis of economic growth. This is an well-informed, highly topical, and persuasive study of interest across all the social sciences. |
Contents
| 3 | |
A Story of the Economic Historians Assessment | 9 |
Schumpeters Plea for Reasoned History | 42 |
A New Approach to History and Statistics | 66 |
The Strange Attraction of Tides and Waves | 93 |
A Theory of Reasoned History | 123 |
Technical Change and Long Waves in Economic | 139 |
The Age of Cotton Iron | 153 |
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accepted already American analysis applications approach argued argument authors became Britain British capital cent century Chapter companies concept consequence considered continued cost cotton countries course cultural cycles defined described discussed dominant early economic economic history economists effects electric emergence engine equilibrium especially established evidence example explanation fact factors firms German growth important increase Industrial Revolution industry influence innovations institutional investment iron Italy Kondratiev later leading long wave machines major manufacturing mass mechanical methods movements nature organic period political possible present problem production profits railways reason relation relatively rise role Schumpeter social society Source statistical steam steel structural successful Table technical theory tion trade trend United variables whole