Abstract
The modern economy is influenced in countless ways by the advance of science and technology. New industries are born as a consequence of the mating of new technologies with new or existing consumer demand. Industries, old or new, shift their location and change their characteristics—and the nature of their work force—in response to technological change. The mechanism and style of management also change as new technology filters into the boardroom as well as the shop floor. The burgeoning literature devoted to pointing out the effects of technological change documents all this in detail—sometimes complete with color photographs and ringing phrases—in publications ranging from learned journals to Sunday supplements. Every schoolboy takes it for granted that technological advance is an enormously potent force that helps to shape the contours of the economy.
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Notes
See Edwin Mansfield, The Economics of Technological Change (New York: W. W. Norton, 1968).
For more discussion of the topics of this section, see Edwin Mansfield, Industrial Research and Technological Innovation, (New York: W. W. Norton for the Cowles Foundation for Research in Economics at Yale University, 1968).
For further discussion of parallel approaches, see Thomas Marschak, Thomas Glennan, and Robert Summers, Strategy for R and D (New York: Springer-Verlag, 1967);
R. Nelson, “Uncertainty, Learning, and the Economics of Parallel Research and Development Efforts” (Review of Economics and Statistics, 1961).
John Kenneth Galbraith, American Capitalism (Boston: Houghton Mifflin, 1952), p. 91.
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© 1971 W. W. Norton & Company, Inc.
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Mansfield, E., Rapoport, J., Schnee, J., Wagner, S., Hamburger, M. (1971). Introduction. In: Research and Innovation in the Modern Corporation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-01639-6_1
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DOI: https://doi.org/10.1007/978-1-349-01639-6_1
Publisher Name: Palgrave Macmillan, London
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