Technology

Joel Mokyr

Technology

Economics

Research output: Chapter in Book/Report/Conference proceeding › Entry for encyclopedia/dictionary

Abstract

Technology is the utilization of natural phenomena and regularities for human purposes. Propositional knowledge – sets of statements about natural regularities and phenomena – provides the epistemic base of technology, whose width largely determines society’s ability to generate technology. The high social rate of return to technology leads to underinvestment in new technology, justifying some government subsidization. Only since the 18th century have producers and scientists been systematically linked, allowing technology to flourish. Technology is the main factor driving economic growth; the scope for technology transfer ensures it will continue to be so, as long as the appropriate institutions are in place.

Original language	English (US)
Title of host publication	The New Palgrave Dictionary of Economics
Editors	Steven N Durlauf, Lawrence E Blume
Publisher	Palgrave-Macmillan
Edition	2
State	Published - 2008

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Cite this

@inbook{141fa82d57be4b51a33afa86bc0b080f,

title = "Technology",

abstract = "Technology is the utilization of natural phenomena and regularities for human purposes. Propositional knowledge – sets of statements about natural regularities and phenomena – provides the epistemic base of technology, whose width largely determines society{\textquoteright}s ability to generate technology. The high social rate of return to technology leads to underinvestment in new technology, justifying some government subsidization. Only since the 18th century have producers and scientists been systematically linked, allowing technology to flourish. Technology is the main factor driving economic growth; the scope for technology transfer ensures it will continue to be so, as long as the appropriate institutions are in place.",

author = "Joel Mokyr",

year = "2008",

language = "English (US)",

editor = "Durlauf, {Steven N} and Blume, {Lawrence E}",

booktitle = "The New Palgrave Dictionary of Economics",

publisher = "Palgrave-Macmillan",

edition = "2",

}

TY - CHAP

T1 - Technology

AU - Mokyr, Joel

PY - 2008

Y1 - 2008

N2 - Technology is the utilization of natural phenomena and regularities for human purposes. Propositional knowledge – sets of statements about natural regularities and phenomena – provides the epistemic base of technology, whose width largely determines society’s ability to generate technology. The high social rate of return to technology leads to underinvestment in new technology, justifying some government subsidization. Only since the 18th century have producers and scientists been systematically linked, allowing technology to flourish. Technology is the main factor driving economic growth; the scope for technology transfer ensures it will continue to be so, as long as the appropriate institutions are in place.

AB - Technology is the utilization of natural phenomena and regularities for human purposes. Propositional knowledge – sets of statements about natural regularities and phenomena – provides the epistemic base of technology, whose width largely determines society’s ability to generate technology. The high social rate of return to technology leads to underinvestment in new technology, justifying some government subsidization. Only since the 18th century have producers and scientists been systematically linked, allowing technology to flourish. Technology is the main factor driving economic growth; the scope for technology transfer ensures it will continue to be so, as long as the appropriate institutions are in place.

M3 - Entry for encyclopedia/dictionary

BT - The New Palgrave Dictionary of Economics

A2 - Durlauf, Steven N

A2 - Blume, Lawrence E

PB - Palgrave-Macmillan

ER -

Technology

Abstract

UN SDGs

Fingerprint

Cite this