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A technological change is a term that is used in economics to describe a change in the set of feasible production possibilities. Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ...
A neutral technological change refers to the behaviour of technological change in models. A technological innovation is Hicks neutral (following Hicks (1932)) if the ratio of capital's marginal product to labour's marginal product is unchanged for a given capital to labour ratio. A technological innovation is Harrod neutral (following Hicks (1932)) if the technology is labour-augmenting (i.e. helps labor); it is Solow neutral if the technology is capital-augmenting (i.e. helps capital). Hicks is the name of several people: Bill Hicks, 1961-1994, a comedian Bonny Hicks, 1968-1997, model-turn novelist Edward Hicks, 1780-1849, painter Elias Hicks, 1748-1830, Quaker minister John Hicks, 1904-1989, an economist who was awarded the Bank of Sweden Prize in Economic Sciences in 1972...
In politics, a capital (also called capital city or political capital — although the latter phrase has a second meaning based on an alternative sense of capital) is the principal city or town associated with a countrys government. ...
In economics, the marginal product or marginal physical product of an input to production during a specific time period is as follows, assuming that no other inputs to production change: marginal product of X used in producing Y = ΔY/ΔX = (the change of Y)/(the change of X). ...
In classical economics and all micro-economics labour is a measure of the work done by human beings and is one of three factors of production, the others being land and capital. ...
Robert Merton Solow (born August 23, 1924) is an American economist particularly known for his work on the theory of economic growth. ...
More information on the economic view of technological change can be found in the reference by Jones given below. Mansfield has an old but readable section on technological change as well.
A synonym, diffusion of innovations, is used more often in business and marketing. Look up Synonym in Wiktionary, the free dictionary. ...
The study of the diffusion of innovation is the study of how, why, and at what rate new ideas spread through cultures. ...
Look up Business in Wiktionary, the free dictionary. ...
Wikibooks has more about this subject: Marketing Marketing is a social and managerial function that attempts to create, expand and maintain a collection of customers. ...
Other views of technological change include Thomas Kuhn's sociological view of scientists working within paradigms and even the concept of memes as proposed by Richard Dawkins. Short summaries of these and other views plus references and suggested reading can be found in Chapter 14 and in the reference section of [1].
References
- Jones, Charles I. Introduction to Economic Growth (W.W. Norton)
- Mansfield, Edwin Microeconomics Theory and Applications (W.W. Norton)
- Kuhn, Thomas S. The Structure of Scientific Revolutions (University of Chicago Press)
- Dawkins, Richard The Selfish Gene, (Oxford University Press)
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