 Long-Term Economic GrowthHasan Gürak Chapter Chapter 3 in The Economic Value of Creative Mental Labor, 2024, pp 29-49 from Springer Abstract: Abstract The purpose of this chapter is to contribute to the theory of growth by presenting a “simple” alternative growth model based on the concepts of creative mental labor and technological innovations. Technological innovations can be defined as either 1. knowledge used to create an existing product with a new production method or 2. knowledge for producing new product, often involving a new production method. For example, producing a mobile phone or computer with the same features at a lower unit cost through a “new production method” falls into the first category. A mobile phone or computer with higher specifications falls into the “new product” category. Old product vs. new product Old products New products Corded telephone device Mobile smartphone Black-and-white TV set Android TV set Diesel engine for cars Hybrid engine for cars Windows 7 Windows 12 The analysis encompassing the concept of “creative mental labor” is rather different from the economic analysis referring to mental activities in noncommercial sectors. Keywords: Creative mental labor; Technological progress; New products; New methods of production; Falling rate of profit; Long-term growth (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-70110-8_3 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-70110-8_3 Access Statistics for this chapter More chapters in Springer Books from Springer |
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