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Table of contents:
How 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'? These are some of the questions addressed in this authoritative analysis of 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 Louca 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 a well-informed, highly topical, and persuasive study of interest across all the social sciences.
Contents:
PART I: HISTORY AND ECONOMICS
- Introduction: The Fundamental Things Apply
- 1
Restless Clio: A Story of the Economic Historians' Assessment of History in Economics
- 2
Schumpeter's Plea for Reasoned History
- 3
Nikolai Kondratiev: A New Approach to History and Statistics
- 4
The Strange Attraction of Tides and Waves
- Conclusions to Part I: A Theory of Reasoned History
- PART II: SUCCESSIVE INDUSTRIAL REVOLUTIONS
- Introduction: Technical Change and Long Waves in Economic Development
- 5
The British Industrial Revolution: The Age of Cotton, Iron, and Water Power
- 6
The Second Kondratiev Wave: The Age of Iron Railways, Steam Power, and Mechanization
- 7
The Third Kondratiev Wave: The Age of Steel, Heavy Engineering, and Electrification
- 8
The Fourth Kondratiev Wave: The Great Depression and the Age of Oil, Automobiles, Motorization, and Mass Production
- 9
The Emergence of a New Techno-economic Paradigm: The Age of Information and Communication Technology (ICT)
- Conclusions to Part II: Recurrent Phenomena of the Long Waves of Capitalist Development
Brief Description:
This title charts the history of five technological revolutions: water- and steam-powered mechanization, electrification, motorization, and computerization. It shows the need to take account of politics, culture, entrepreneurship, and science and technology in the analysis of economic growth.
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