Technology Cycles and U.S. Economic Policy in the Early 21st Century

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy, Business & Finance, Economics
Cover of the book Technology Cycles and U.S. Economic Policy in the Early 21st Century by Nathan Edmonson, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Nathan Edmonson ISBN: 9781351486729
Publisher: Taylor and Francis Publication: September 8, 2017
Imprint: Routledge Language: English
Author: Nathan Edmonson
ISBN: 9781351486729
Publisher: Taylor and Francis
Publication: September 8, 2017
Imprint: Routledge
Language: English

The overarching theme of this volume is the cyclical nature of technological change, its impact on economic growth, and the limits of government intervention. Technological revolutions are infrequent; there were only three in all of the twentieth century. When they occur, their possibilities are often not immediately apparent. Technology revolutions induce capital investment, not just because they stimulate the need to acquire the new technology, but also because of the need to replace obsolete capacity and new infrastructure. While government has encouraged general economic progress by carrying out highly risky innovations unrelated to fostering economic growth, it seldom succeeds with specific efforts to foster growth. Recent examples of success include the Internet and the global positioning system (GPS), which trace their origins to defense-related research. In contrast, the countercyclical economic stimuli of 2007-2009 have achieved little in the way of general growth. The lack of data about the technology cycle makes formulating appropriate monetary and other policy countercyclical interventions difficult. A technology-founded upswing animated the American economy after 1990, and the -great recession- of 2007- 2009 reflected the waning of the investment boom that this revolution generated. Edmonson argues that the impact of technology revolutions on general economic growth has never received the attention it deserves. This volume will contribute much to debates on economic policy.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The overarching theme of this volume is the cyclical nature of technological change, its impact on economic growth, and the limits of government intervention. Technological revolutions are infrequent; there were only three in all of the twentieth century. When they occur, their possibilities are often not immediately apparent. Technology revolutions induce capital investment, not just because they stimulate the need to acquire the new technology, but also because of the need to replace obsolete capacity and new infrastructure. While government has encouraged general economic progress by carrying out highly risky innovations unrelated to fostering economic growth, it seldom succeeds with specific efforts to foster growth. Recent examples of success include the Internet and the global positioning system (GPS), which trace their origins to defense-related research. In contrast, the countercyclical economic stimuli of 2007-2009 have achieved little in the way of general growth. The lack of data about the technology cycle makes formulating appropriate monetary and other policy countercyclical interventions difficult. A technology-founded upswing animated the American economy after 1990, and the -great recession- of 2007- 2009 reflected the waning of the investment boom that this revolution generated. Edmonson argues that the impact of technology revolutions on general economic growth has never received the attention it deserves. This volume will contribute much to debates on economic policy.

More books from Taylor and Francis

Cover of the book Beginning Human Rights Law by Nathan Edmonson
Cover of the book Managing Mergers Acquisitions and Strategic Alliances by Nathan Edmonson
Cover of the book Europeanization of Environmental Policy in the New Europe by Nathan Edmonson
Cover of the book Healing the Hospital Environment by Nathan Edmonson
Cover of the book Routledge Revivals: Religion and American Law (2006) by Nathan Edmonson
Cover of the book Consumer Debt and Social Exclusion in Europe by Nathan Edmonson
Cover of the book Heritage and the Legacy of the Past in Contemporary Britain by Nathan Edmonson
Cover of the book Contemporary Regional Development in Africa by Nathan Edmonson
Cover of the book Communication and Social Cognition by Nathan Edmonson
Cover of the book The Person Who Is Me by Nathan Edmonson
Cover of the book Bertrand Russell's Construction of the External World by Nathan Edmonson
Cover of the book Science in Culture by Nathan Edmonson
Cover of the book Transfer from the Primary Classroom by Nathan Edmonson
Cover of the book Affect in Psychoanalysis by Nathan Edmonson
Cover of the book Longing, Intimacy and Loneliness by Nathan Edmonson
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy