|
"The fortunes of mankind have been
closely affected by the growth of technology;
the same influence has helped to shape the relations
of nations and classes; and in the life of the
individual, technology plays an alternate role
as servant or master of man's activities"
- Asian Development Bank 1995
|
 |
In
a study of productivity growth in the US economy,
Richard Solow found that about 90% of the increase
in per capita output was attributable to technological
change in the 40 year period from 1909 to 1950.
Over the past 50 years, the contribution of new
technologies and improved work practices to economic
growth has increased further.
|
|
More
recently, however, William Lewis ['The Power of
Productivity...'] provides better insights into
the drivers of productivity and economic and firm
growth. Lewis concludes that without a competitive
market we can expect to be disappointed in the
results of other things like improved macro-economic
policies, education, health, quality management,
research and extension. |
