Impact of Scientific and Technological Progress on Economic Development - the Views of Some Nobel Laureates of the Economic Science

Florentina Xhelili Krasniqi and Nexhmie Berisha Vokshi
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Florentina Xhelili Krasniqi: University of Prishtina, Kosovo
Nexhmie Berisha Vokshi: University of Prishtina, Kosovo

Economics and Applied Informatics, 2017, issue 3, 94-98

Abstract: There are different authors' opinions and numerous theories according to which scientific technological progress is a determining factor of the economic development. The paper aims to present the contributions of some Nobel laureates to the impact of scientific and technological progress on economic development such as Arrow, Debreu, Hicks, Solow, Kuznets, Kantorovich and Stiglitz. The research results of their contributions show that scientific technological progress is considered as a source of economic development but this advanced technology to be widely and effectively used should be accompanied by such ideological and institutional adjustments that guarantee the reasonable use of innovations produced by the huge improvements of human knowledge.

Keywords: Nobel laureates of economic science; Scientific and technological progress; Scientific-research activity; Economic development (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fseeai:y:2017:i:3:p:94-98

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