Abstract
Having examined the problem of the choice of techniques in the preceding chapter, we will now deal with the way in which technological changes occur endogenously. Technology is not given to economic systems. There exist dynamic interactions between human knowledge and economic variables. There are numerous theories about the process of knowledge accumulation. A psychological approach may supply a “micro foundation” for an understanding of knowledge accumulation, although macro characteristics are not necessarily derived from any micro world. The interactions appear to be so complicated that we cannot hope to develop a perfect theory to explain all aspects of the actual process. We will employ a model to investigate what happens to human and physical capital accumulation and consumption under certain plausible conditions.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1990 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Zhang, WB. (1990). Technological Policy and Economic Development — A Neoclassical Approach. In: Economic Dynamics. Lecture Notes in Economics and Mathematical Systems, vol 350. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-86480-3_8
Download citation
DOI: https://doi.org/10.1007/978-3-642-86480-3_8
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-53217-0
Online ISBN: 978-3-642-86480-3
eBook Packages: Springer Book Archive