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By Robert Boyer

The writer brings major and clean perception into efforts to situate the which means of the electronic transformation wherein we live. With analytic self-discipline and ancient standpoint, Boyer offers a major interpretation that may be important to pupil and instructor, and people who lived via it.

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Extra info for The Future of Economic Growth: As New Becomes Old (The Saint-Gobain Centre for Economic Studies Series)

Example text

Once again, the automobile sector is atypical as it adheres to the tenets of lean production, stressing quality and market responsiveness. Nevertheless, it is not at all certain that e-commerce enables the same sort of cost-cutting in all sectors.

1 Productivity gains are concentrated in information-related durable goods Per-hour productivity of labour in the United States, 1950–99 (average annual rate of increase in %) Periods 1. Non-farm business 2. 1. 2. Non-durable goods 3. 5 Gordon (2000a). 1. 8 per cent). However, within the industrial sector itself, it was durable goods production that recorded a notable acceleration, propelled by computer sector goods. 8 per cent per annum). On the other hand, non-durable goods production did not show any increase in productivity gains.

In other words, we should wait until the necessary ICTenhancing infrastructure investments enable the organizational forms and (still) embryonic technologies of the late 1990s to express themselves fully (David, 2000; Soete, 2001a). Lastly, there is one view that is even more extreme, even if it derives more from theory than from observation. This is the notion of endogenous growth. If we postulate that ideas produce ideas and that they can be accumulated without any long-term lowering of returns, this means that nothing precludes a long-term pursuit of the total productivity trends that were observed in the United States at the end of the 1990s.

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