EST 201 Study Guide - Midterm Guide: Leo Marx, Digital Divide, Neoliberalism
14 Aug 2016
School
Department
Course
Professor
Document Summary
The digital divide: the gulf between those who have ready access to computers and the internet, and those who do not. Leo marx: improvements in technology lead to historical progress. Enlightenment belief of history as progress that became the prevailing american worldview. Technological progress is cumulative and dynamic: larger quantities of output, better products, new products, a larger variety of products. Tech progress increases when we can define it as the amount of effective labor in the economy: private spending on r&d depends on: Fertility of research process/how spending on r&d translates into new ideas and new products. Appropriability of research results /extent to which firms bemefit from the results of their own r&d: determinants of fertility. Institutional environment: educational levels, firm"s characteristics, legal frameworks. Time: it might take years for full potential of major discoveries to be realized. Resources: firms will not r&d without profits.
