Science and technology have allied for centuries to create new goods, markets and production methods, expanding economies in the process. Today, explosive leaps in the field of computing underlie gains in research, manufacturing and services. According to economist Joel Mokyr, early 21st-century breakthroughs in areas such as materials science, biology, artificial intelligence and lasers will propel economic progress far into the future. getAbstract suggests this broad-brush look at the interdependence of science and economics to executives and investors.
In this summary, you will learn
- How science and technology coevolve,
- How technological advancement drives economic growth, and
- Why early 21st-century technology breakthroughs will benefit the economy for years to come.
About the Author
Joel Mokyr is a professor of economics at Northwestern University.