The essays in this book explore the forces behind modern ecomic growth and, in particular, the causes of the extraordinary surge of growth since the Second World War. The introductory essay is an extended treatment of the current views of ecomists on the growth process and its causes. Other essays consider the contributions of capital formation, education, and the changing character of industries and occupations. These essays disclose the central role of techlogical progress, take up the relations of science, techlogy, and business, and discuss the conditions that make for investment in research and the widespread exploitation of new kwledge. They show how Japan and Europe had an unusual opportunity after the war to advance rapidly by following in paths of techlogy and industrial organization pursued earlier by the United States, and how a remarkable set of circumstances and policies governing trade, investment, population migration, and money worked together to sustain rapid and concerted growth for many years.
Cambridge University Press
Date of Publication
History: Specific Subjects
Studies in Economic History & Policy: USA in the Twentieth Century