The Theory of Technological Change and Economic Growth

This book explores the connection between technological change and economic growth, highlighting various theories and their implications for different countries, including Japan and the UK.

In The Theory of Technological Change and Economic Growth, Stanislaw Gomulka provides a comprehensive examination of the various economic theories that explain technological change. He intricately connects these theories to the growth rates observed in different economies over both short and long-term periods. By analyzing a diverse range of countries, including Japan, the Soviet Union, and the United Kingdom, Gomulka illustrates the significant interdependence between technological advancements and the unique institutional and cultural characteristics that shape each nation’s economic trajectory.

The book delves into the major models proposed by influential economists such as Kuznets and Phelps, offering a thorough discussion of their relevance to the understanding of economic growth. Gomulka's approach is centered on developing a unified theoretical framework that clarifies how technological progress influences economies on both micro and macro levels. This framework serves as a vital tool for policymakers and economists alike, as it highlights the multifaceted relationship between innovation and economic performance.

By the end of The Theory of Technological Change and Economic Growth, readers gain a deeper appreciation of the complexities involved in economic growth and the role of technology as a driving force. Gomulka's insights not only contribute to the academic discourse but also provide practical implications for understanding how different economies can harness technological change to foster growth and development.