Long-run Economics

The aim of this book is to develop a more realistic conceptual framework for the analysis of technological and economic change than is provided by conventional economies. Case studies are used to illustrate the argument that a framework for analysis of socio-economic growth and development should be evolutionary in character. Central to this are propositions: that technological change, broadly defined, is a key characteristic of socio-economic transformation; and that economic systems are ultimately propelled through time by the innovations originating within the science/technology system itself. Market influences, though important, act largely as selection mechanisms. A basic argument of the book is that an evolutionary approach to long run socio-economic change provides better insights into relevant aspects of the policy process, particularly those concerning the disposition of resources to science and technology. For this reason, special emphasis is given to science and technology policy.
 
The aim of this book is to develop a more realistic conceptual framework for the analysis of technological and economic change than is provided by conventional economies. Case studies are used to illustrate the argument that a framework for analysis of socio-economic growth and development should be evolutionary in character. Central to this are propositions: that technological change, broadly defined, is a key characteristic of socio-economic transformation; and that economic systems are ultimately propelled through time by the innovations originating within the science/technology system itself. Market influences, though important, act largely as selection mechanisms. A basic argument of the book is that an evolutionary approach to long run socio-economic change provides better insights into relevant aspects of the policy process, particularly those concerning the disposition of resources to science and technology. For this reason, special emphasis is given to science and technology policy.