Trade in Technology — Who, What, Where and When?
It is tedious, and unnecessary, to dwell on the relatively recent acceptance by economic theory that technical change is an important factor underlying the rate and nature of accumulation, and that it is not something exogenous to the economy, arising as manna from heaven. If anything, the balance has swung too far in favour of highlighting the role which technological capability per se can play in stimulating economic activity in analyses which fail to situate technical change within relations of production. However, in my view, it is not only with respect to the failure to locate technical change in a political economic context that much of contemporary research in this area falls down. Equally disturbing is the ahistoricism underlying many of the analytical and presumptive conclusions which are drawn from various empirical studies.
KeywordsSugar Furnace Depression Europe Petroleum
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