Capital, Technology, and Labor in the New Global Economy

By James H. Cassing; Steven L. Husted | Go to book overview

Technological Change and Its International Diffusion

Lewis M. Branscomb


The Relationship of Science to Technology

The extraordinary propensity of the Western industrialized democracies for economic growth can be traced to the emergence of societies structured to facilitate and reward innovation. This came about through the delegation of economic decision-making power to individual firms, the sorting of success from failure through competition, and the development of political systems capable of absorbing the stresses brought on by change. 1 In the nineteenth century science was developing quite independently of technological innovations. Technological progress was highly empirical; technical education depended heavily on apprenticeship. These qualities set limits on the rate of diffusion of technology. A period of shared experience was necessary to transfer mastery of an industrial art.

The emergence of the corporate research laboratory in the twentieth century, reflecting growing appreciation of the potential economic importance of applied scientific research, signaled an important change in the process of technological innovation. Science provided manageable tools for achieving a desired technical solution to a problem. Technological progress could be planned, even it if could not be ensured. With strategies for achieving defined goals within available time and resources, dependence on serendipity was reduced. The power of the emerging science did not eliminate risk and uncertainty; but entrepreneurs were able, at an acceptable level of risk, to attract resources from others with which to embark on ventures with higher potential rewards, based on ever more complex technology.

It is a commonly held fallacy, however, that scientific progress leads naturally, perhaps inevitably, to technological progress. This assumption lies at the heart of the U.S. science policy of the past thirty

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Capital, Technology, and Labor in the New Global Economy
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Acknowledgments xi
  • Foreword xiii
  • Introduction xvii
  • Part One The Ongoing Revolution in American Banking 1
  • The Ongoing Revolution in American Banking 3
  • Appendix 51
  • Steven L. Husted 91
  • James H. Cassing 93
  • Burns's Reply to Comments by Husted 97
  • Part Two Technological Change and Its International Diffusion 101
  • The Relationship of Science to Technology 103
  • Notes 113
  • Nam Pyo Suh 114
  • William E. Souder 117
  • William E. Souder 119
  • Branscomb's Response to Discussants 120
  • Part Three Changes in International Marketing Techniques 125
  • On the Trend to Globalization 127
  • Conclusion 134
  • C. Whan Park 136
  • Toni Carbo Bearman 138
  • Kobayashi's Response to Park 142
  • Part Four Global Interdependence and International Migration 147
  • Global Interdependence and International Migration 149
  • Notes 179
  • John T. Dunlop 184
  • Notes 187
  • Joseph Eaton 187
  • Note 191
  • Discussion 192
  • Index 197
  • A Note on the Book 207
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