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Justice and Injustice: Ancient Wisdom and the Modern Knowledge Economy.
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- Author(s): Alperovitz, Gar; Daly, Lew
- Source:
Tikkun (Duke University Press). Mar/Apr2009, Vol. 24 Issue 2, p38-75. 5p. 3 Color Photographs, 1 Black and White Photograph.
- Additional Information
- Subject Terms:
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- Abstract:
The article offers information on the effect of technical progress on the U.S. economy. Economists have traditionally taught that economic growth depends primarily upon the inputs of land, labor, and capital, but after World War II, new studies stated that increases in the supply of capital were the main engine of economic growth. An economist from Massachusetts Institute of Technology, Robert Solow, says that the U.S. economy is more than 1,000 times larger than it was in year 1800.
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