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Exact(23)
Many felt his optimism about the rate of technological progress was unfounded, and possibly dangerous.
Since the 1960's, futurists have consistently overestimated the future rate of technological progress and economic growth.
Generally, the rate of technological progress and labour productivity is rising, but wages are stagnating and factories are shedding jobs.
In his opinion, "the rate of technological progress is going to be controlled [by] financial realities". Some technical innovations, that is, may not be economically feasible, no matter how desirable they are.
Rather, the business cycle reflects fluctuations in the rate of technological progress, which are amplified by the rational response of workers, who voluntarily work more when the environment is favorable and less when it's unfavorable.
Recent events have pretty decisively refuted the idea that recessions are an optimal response to fluctuations in the rate of technological progress; a more or less Keynesian view is the only plausible game in town.
Similar(37)
Using US data, Bartel and Sichermann (1993) show that workers in industries with higher average rates of technological change retire later than workers in industries with lower rates of technological progress, since they prefer to smooth the human capital investment they made.
Meanwhile, the very pace of technological progress is picking up.
And what about the pace of technological progress?
We analyze the rate and direction of technological progress of standards subject to declared standard-essential patents (SEP).
As a result of technological progress and design changes, basic scaling based on the turbine rating cannot be used directly.
More suggestions(11)
index of technological progress
rate of technological innovation
rate of educational progress
rate of technological growth
rate of technological improvement
rate of technological advance
rate of technological inflation
rate of technological displacement
rate of technological change
rate of technological development
rate of technological advancement
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