Technology, Driver of Growth

Roman Boutellier and Mareike Heinzen
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Roman Boutellier: ETH Zürich
Mareike Heinzen: ETH Zürich

Chapter 3 in Growth Through Innovation, 2014, pp 33-45 from Springer

Abstract: Abstract Growth has been the single most important characteristic of global economy for the last 200 years. It is very much driven by technology. Recent estimates set its impact at 35–55 % of total growth. But technology needs a specific social environment in which to thrive: Capitalism produced entrepreneurs and property rights, two basic pillars of innovation and growth.

Keywords: Technological Change; Technological Progress; Technical Progress; Free Cash Flow; Business Growth (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-04016-5_3

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DOI: 10.1007/978-3-319-04016-5_3

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