Introduction: Science, Technology and Economic Development

Abstract

WHEN X grows it expands in size. When X develops it grows and changes. Most writers refer to economic growth as being the sustained rise of national income or of national income per head. Historical data suggests that the growth in output of such major nations as the USA, Britain or Japan has been at rates far beyond those that could be accounted for by an increase in the supply of such conventional inputs as labour, land, and capital. Over the period with which this book deals, scarce economic resources have been used with increasing efficiency.

Concepts are plans for action; they are programmes for research … And they will be known by their fruits.

Alexander Gerschenkron, 1968

The notion of a production function — the spectrum of all known techniques of production — is by itself a metaphysical concept.

Mark Blaug, 1961