Abstract
The question of the relevance of economic theory to present-day society is particularly important when we come to the issues surrounding changes in technology. However loosely we define technical change (say, as changes in methods or processes of production as well as in the products themselves), the fact that it affects every aspect of social life undoubtedly justifies a close examination of the way in which economic theory tries to grasp this very complex phenomenon.
The authors wish to acknowledge the comments received on earlier versions of this paper from G. K. Boon, Raúl Conde, Pierre Ewenczyk, Eduardo A. Guimarães, Patrick Maurisson, Alfonso Mercado, Carlos Roces and José Tavares. They have also benefited from the discussion at the round table.
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References
See for example, W. E. G. Salter, Productivity and Technical Change (Cambridge University Press, 1960);
P. A. Samuelson, ‘A Theory of Induced Innovation along Kennedy-Weisacker Lines’, Review of Economics and Statistics (November 1965);
N. Rosenberg, Perspectives on Technology (Cambridge University Press, 1976). p. 63.
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This is essentially the criticism addressed to C. E. Ferguson’s The Neoclassical Theory of Production and Distribution (Cambridge University Press, 1969), by Joan Robinson in her article quoted in footnote 1 on p. 245.
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© 1980 International Economic Association
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Urquidi, V.L., Nadal, A. (1980). Some Observations on Economic Theory and Technical Change. In: Pajestka, J., Feinstein, C.H. (eds) The Relevance of Economic Theories. International Economic Association Publications. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-16443-1_15
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DOI: https://doi.org/10.1007/978-1-349-16443-1_15
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