Kids react to Walkmans
01 Apr 2017 Leave a comment
in economics of media and culture Tags: creative destruction, good old days
Capitalism was the engine of liberation from domestic drudgery
12 Mar 2017 Leave a comment
in economic history, labour economics, labour supply Tags: creative destruction, engines of liberation, household production, housework, technology diffusion, The Great Enrichment
Big Plane vs Little Plane (The Economics of Long-Haul Flights)
25 Feb 2017 Leave a comment
in economics, transport economics Tags: creative destruction
Daron Acemoglu: Technology and Unemployment
24 Feb 2017 Leave a comment
in applied price theory, economic history, labour economics, labour supply Tags: creative destruction, technological unemployment
The robots to get everybody’s jobs and then some 150 years ago
21 Feb 2017 Leave a comment
in economic history, industrial organisation, labour economics, labour supply Tags: creative destruction, technological unemployment
The tractors are coming, the tractors are coming for all the horses
16 Feb 2017 Leave a comment
in economic history, industrial organisation, labour economics, labour supply Tags: agricultural economics, creative destruction, technological unemployment, technology diffusion
Many new technologies display long adoption lags, and this is often interpeted as evidence of frictions inconsistent with the standard neoclassical model. We study the diffusion of the tractor in American agriculture between 1910 and 1960 — a well known case of slow diffusion — and show that the speed of adoption was consistent with the predictions of a simple neoclassical growth model.
The reason for the slow rate of diffusion was that tractor quality kept improving over this period and, more importantly, that only when wages increased did it become relatively unprofitable to operate the alternative, labor-intensive, horse technology
Source: Frictionless Technology Diffusion: The Case of Tractors By RODOLFO E. MANUELLI AND ANANTH SESHADRI
Robert Gordon: The death of innovation, the end of growth
15 Feb 2017 Leave a comment
in development economics, economic history, economics Tags: creative destruction





Recent Comments