General purpose technologies
By: Boyan Jovanovic, Peter L. Rousseau.
Contributors: Rousseau, Peter L.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11093; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11093.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Electricity -- Economic aspects -- United States.; Information technology -- Economic aspects -- United States.; Economic development -- Effect of technological innovations on -- United States.
Description: "Electricity and Information Technology (IT) are perhaps the two most important general purpose technologies (GPTs) to date.  We analyze how the U.S. economy reacted to them.  The Electricity and IT eras are similar, but also differ in several important ways.  Electrification was more broadly adopted, whereas IT seems to be technologically more "revolutionary." The productivity slowdown is stronger in the IT era but the ongoing spread of IT and its continuing precipitous price decline are reasons for optimism about growth in the 21st century"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Mode of access: World Wide Web.