Entrepreneurship, Knowledge, and the Industrial Revolution

Entrepreneurship, Knowledge, and the Industrial Revolution

This paper constructs a two-sector unified growth model. Learning-by-doing in agriculture eventually allows the preindustrial economy to leave its Malthusian trap. But entrepreneurs in the manufacturing sector do not attempt invention if not much is known about natural phenomena. This delays the industrial revolution. Since entrepreneurs identify new useful knowledge at all times in a serendipi...

Knowledge, Technology, and Economic Growth During the Industrial Revolution

and an anonymous referee for helpful comments and to Steve Nafziger for research assistance. 1 " It is clear from the preceding that every " art " [technique] has its speculative and its practical side. Its speculation is the theoretical knowledge of the principles of the technique; its practice is but the habitual and instinctive application of these principles. It is difficult if not impossib...

The New Industrial Revolution

The New Industrial Revolution

This article outlines a new framework for understanding the current period of global restructuring, focusing on the relationship between technological change and organizational change. After reviewing the major approaches in the debate over future pathways to industrialization, a new perspective for understanding the ‘new industrial revolution’ is presented. At the core of this revolution is th...

The British Industrial Revolution