Tunzelmann,Schumpeter, and the Hockey Stick |
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| Institution: | 1. Max Planck Institute for Innovation and Competition, Marstallplatz 1, 80539 München, Germany;2. Kiel Institute for the World Economy, Kiellinie 66, 24105 Kiel, Germany;3. University of Cape Town, Lover’s Walk, Rondebosch 7700, Cape Town, South Africa;1. College of Management, Yuan Ze University, Taiwan;2. College of Technology Management, National Tsing Hua University, Taiwan;3. College of Business Administration, Loyola Marymount University, Los Angeles, CA 90045;4. College of Management, and Center for Research in Econometric Theory and Application, National Taiwan University, Taiwan |
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| Abstract: | The article reviews theoretical approaches and methods of conventional economics and economic history to address the fundamental question of why the world's economy has experienced unprecedented growth rates only after 1800, following millennial relative stagnation. The intellectual challenge put forward by economic historians and historians of technical change is to explain the role of technology broadly interpreted in affecting economic change, offering a richer picture than the mere accumulation of production factors. This includes the analysis of the processes leading to the accumulation of ‘inventive people’. |
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| Keywords: | Economic history History of technical change History of ideas Economic growth |
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