Technology, productivity, and economic growth: economists are beginning to unravel the interconnections

Journal Article · Thu Jan 01 04:00:00 EST 1976 · Mosaic; (United States)

OSTI ID:7328642

Historical growth of productivity in the U.S. results from technological change, leading to increasingly effective use of labor, capital, and natural resources. Edward F. Denison of the Brookings Institution estimates that technological change is not only the biggest source of growth, but accounts for about one-third of the increase in national income from 1927 to 1969. An evaluation of the contributions of technology to changes in economic productivity is being researched by economists since the decline of America's economic growth in the late 1960s and early 1970s. Productivity, as measured in output per man hour, actually declined by 2.7 percent between 1973 and 1974, the first drop in 25 years. R and D spending has declined. The impacts from R and D investments on specific products and processes, and the returns in increased productivity, profits, and/or savings to the consumer are examined. (MCW)

• OSTI ID: 7328642
• Journal Information: Mosaic; (United States), Journal Name: Mosaic; (United States) Vol. 7:5; ISSN MSAIB
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
42 ENGINEERING
420000 -- Engineering
CAPITAL
COMMODITIES
CORRELATIONS
DEMAND FACTORS
ECONOMIC DEVELOPMENT
ECONOMIC POLICY
ECONOMICS
ENGINEERING
GROSS NATIONAL PRODUCT
INDUSTRY
INVESTMENT
MATERIALS
NORTH AMERICA
PRODUCTION
RESEARCH PROGRAMS
SOCIOLOGY
USA