Sustained economic growth through technological progress

Nobel Prize Committee
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No 2025-2, Nobel Prize in Economics documents from Nobel Prize Committee

Abstract: On a daily basis, we are reminded of how fast technology progresses and how it changes the world around us. New discoveries and new innovations affect our lives directly and they also fundamentally affect the economy. Technological change is of course not a new phenomenon. Progress and innovations have occurred since ancient times. What is relatively recent, however, viewed against the entire history of hu- mankind, is the type of innovation-driven economic growth enjoyed by the advanced countries of the world during the last two centuries, and how such high growth rates are sustained.

Keywords: technological innovation; economic growth (search for similar items in EconPapers)
JEL-codes: O (search for similar items in EconPapers)
Pages: 52
Date: 2025-10-13
New Economics Papers: this item is included in nep-hpe, nep-inv and nep-tid
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