This book is a theoretical investigation of the influence of human
learning on the development through time of a 'pure labour'
economy. The theory proposed is a simple one, but aims to grasp the
essential features of all industrial economies. Economists have
long known that two basic phenomena lie at the root of long-term
economic movements in industrial societies: capital accumulation
and technical progress. Attention has been concentrated on the
former. In this book, by contrast, technical progress is assigned
the central role. Within a multi-sector framework, the author
examines the structural dynamics of prices, production and
employment (implied by differentiated rates of productivity growth
and expansion of demand) against a background of 'natural'
relations. He also considers a number of institutional problems.
Institutional and social learning, know-how, and the diffusion of
knowledge emerge as the decisive factors accounting for the success
and failure of industrial societies.
General
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