Talk:Florida State Road 508 and General-purpose technology: Difference between pages
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'''General purpose technologies''' (GPTs) describe great leaps of [[innovation]] that can affect an entire [[Economic system|economy]] (usually at a [[nation]]al or [[global]] level). Unlike traditional technologies, which [[economists]] view as a smooth advancement, GPTs are drastic advancements that redefine [[society]]. Examples are the [[steam engine]], [[railroad]], [[electricity]], [[electronics]], the [[automobile]], the [[computer]], and the [[Internet]]. |
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==Lag== |
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{{U.S. Roads WikiProject|state=FL|importance=Mid|class=Stub|needs-map=yes}} |
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The introduction of a new GPT to an economy may, before improving productivity, actually decrease it: |
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*the obsolescence of old technologies and skills |
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*learning costs |
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*time required for development of new [[infrastructure]] |
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*readjustment of labor to new industries, causing temporary [[unemployment]] |
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This initial inability to exploit the benefits of the new technology is known as the [[productivity paradox|Solow Paradox]]. |
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New technology can also be isolating. The internet, originally created for faster communication between people, can cause you to search for someone random and foreign to connect with. |
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==See also== |
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*[http://www.amazon.com/dp/0262082632 General Purpose Technologies and Economic Growth] Edited by Elhanan Helpman. |
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*[http://www.oup.com/uk/catalogue/?ci=9780199290895 ECONOMIC TRANSFORMATIONS:General Purpose Technologies And Long Term Economic Growth] by Richard G. Lipsey, Kenneth I. Carlaw, Clifford T. Bekar |
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[[Category:Innovation]] |
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[[Category:Economic growth|G]] |
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[[Category:Macroeconomics|G]] |
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Revision as of 20:32, 12 October 2008
General purpose technologies (GPTs) describe great leaps of innovation that can affect an entire economy (usually at a national or global level). Unlike traditional technologies, which economists view as a smooth advancement, GPTs are drastic advancements that redefine society. Examples are the steam engine, railroad, electricity, electronics, the automobile, the computer, and the Internet.
Lag
The introduction of a new GPT to an economy may, before improving productivity, actually decrease it:
- the obsolescence of old technologies and skills
- learning costs
- time required for development of new infrastructure
- readjustment of labor to new industries, causing temporary unemployment
This initial inability to exploit the benefits of the new technology is known as the Solow Paradox.
New technology can also be isolating. The internet, originally created for faster communication between people, can cause you to search for someone random and foreign to connect with.
See also
- General Purpose Technologies and Economic Growth Edited by Elhanan Helpman.
- ECONOMIC TRANSFORMATIONS:General Purpose Technologies And Long Term Economic Growth by Richard G. Lipsey, Kenneth I. Carlaw, Clifford T. Bekar
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