1. See especially David Landes, The Unbound Prometheus: Technology
Change and Industrial Development in Western Europe from 1750 to the Present
( Cambridge University Press, 1969); and Joel Mokyr, The Lever of Riches
( Oxford University Press, 1990). 2.
On the methods used to measure real income at the national level and
the difficulties encountered, see Angus Maddison, Monitoring the World
Economy: 1820-1992 ( Paris: OECD, 1995), pp. 117-47. On the sizable underestimates that can occur for the satisfaction of a basic need such as illumination, see
William D. Nordhaus, "Do Real Output and Real Wage
Measures Capture Reality?" in
Timothy F. Bresnahan and
Robert J. Gordon, eds., The Economics of New Goods ( University of Chicago Press, 1997), pp. 29-70.
Continuous compounding is assumed. For Korea, the time spans are 1912-93.
See, for example, Edward E. Denison, Accounting for Slower Economic
Growth: The United States in the 1970s ( Brookings, 1979);
Martin N. Baily
and Alok Chakrabarti, Innovation and the Productivity Crisis ( Brookings,
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: New Perspectives on Economic Growth and Technological Innovation.
Contributors: F. M. Scherer - Author.
Publisher: Brookings Institution.
Place of publication: Washington, DC.
Publication year: 1999.
Page number: 129.
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