This book begins by discussing the growing appreciation by economists that technical change is a powerful force tied up with many arenas of economic activity. Nelson's central argument is that this recognition calls for a change in economic analysis to a style that better comprehends that technical change is an evolutionary process. New data is presented on the factors influencing technical change in different industries. These data permit a deeper look into the forces behind the great inter-industry differences in R and D and technical change. The book concludes with a detailed examination of the institutions involved in technical change in advanced capitalist economies. Parts of the system are keyed to rivalry, but there is inter-firm cooperation and sharing as well. There are public funds and institutions in the system, as well as private. Nelson's thought-provoking work combines in a masterly way deep theoretical insight with detailed understanding of the functioning of present-day institutions. This book is a contribution not simply to understanding of technical change, but to understanding of economic dynamics more generally.
- ISBN10 0444702075
- ISBN13 9780444702074
- Publish Date November 1987
- Publish Status Out of Print
- Out of Print 17 October 2009
- Publish Country GB
- Publisher Taylor & Francis Ltd
- Imprint Elsevier Science Ltd
- Format Hardcover
- Pages 136
- Language English