Abstract
Earlier chapters have followed the conventional procedure in economic analysis of distinguishing between microeconomic and macroeconomic problems. Thus in Part I the focus was on the firm as the initiator of technological change. Technological changes brought about by other firms were related to those of the firm under consideration by translating them into components of the environment, which might further be broken down into threats, opportunities, changes in the structure of demand, in patterns of risk facing various lines of technological advance, and so on. Chapter 5 examined the evidence for patterns amongst innovations. By contrast, Chapter 6 dealt largely with technological change from the ‘top down’, rather than from the ‘bottom up’. By assuming that significant numbers of firms are always innovating or adopting, it is possible to hypothesise an average ‘rate of technical change’. On this basis it has been possible to construct economic arguments about the likely effects of a rate of technological change on rates of productivity growth, output growth, trade patterns and so on.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
