EconPapers    
Economics at your fingertips  
 

In brief...Cotton and Cars: the Huge Gains from Process Innovation

Tim Leunig () and Hans-Joachim Voth

CentrePiece - The Magazine for Economic Performance from Centre for Economic Performance, LSE

Abstract: New inventions are good for economic growth, but equally important are improvements in the way we make things - what's known as process innovation. Tim Leunig and Joachim Voth measure the impact of two such innovations - mechanical cotton spinning and the motorcar assembly line - on the world's material wellbeing.

Keywords: Process innovations; new goods; welfare; consumer surplus; mechanisation; mass production; automobiles; cotton; industrial revolution; second industrial revolution (search for similar items in EconPapers)
JEL-codes: N22 N24 O31 O40 (search for similar items in EconPapers)
Date: 2011-10
New Economics Papers: this item is included in nep-his and nep-ino
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://cep.lse.ac.uk/pubs/download/cp347.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cep:cepcnp:347

Access Statistics for this paper

More papers in CentrePiece - The Magazine for Economic Performance from Centre for Economic Performance, LSE
Bibliographic data for series maintained by ().

 
Page updated 2020-11-26
Handle: RePEc:cep:cepcnp:347