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- W2045496624 abstract "The pace of technological innovation, together with productivity and economic growth, has been greatly speeded up in modern times. Although the Middle Ages produced a few inventions such as windmills and horseshoes, technological progress was almost imperceptible compared to more recent developments. During the nineteenth and twentieth centuries real gross domestic product (GDP) per person in the advanced economies grew by about 1.6 per cent per year on average, a rate at which income per head doubles every 44 years. Over the 13 centuries before 1800, however, real output per head crept up by an average of no more than 0.1–02 per cent a year (Woodall,1996:7). Real incomes doubled only every 500 years at this rate, while living standards did not improve noticeably during an individual's lifetime." @default.
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- W2045496624 date "2000-12-03" @default.
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- W2045496624 title "How to compete in the perpetual innovation economy" @default.
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