Technical Progress and the Wealth of Nations

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Abstract

Technical progress - the systematic process of continuous learning in production, that characterizes industrial societies - represents the most powerful and revolutionary source of wealth that has so far become available to mankind. This is a source of wealth with characteristics far more favourable to the relations among individuals and among nations than the older forms of pursuing wealth through exploitation and trade. Technical progress is a complex process: it does not bring wealth in an automatic way. It does not come as a free gift. It has to be managed. It comes as an impetuous flow of possibilities which must continually be channelled in new directions.
Lingua originaleEnglish
Titolo della pubblicazione ospiteTechnologischer Wandel in Wirtschaft und Gesellschaft
EditorH. Bortis, L. Bosshart
Pagine47-66
Numero di pagine20
Stato di pubblicazionePubblicato - 1985

Keywords

  • Industrial society and production
  • Sources of wealth
  • Technical progress
  • Wealth of nations

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