- Current section: Introduction
- Learning outcomes
- 1 Technological advancement
- 2 Technological change and economic growth
- 3 Information technology, productivity and growth
- 4 ‘Garage tinkerers’: new economy or industry life cycle?
- 5 Conclusion
- Questions for review and discussion
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Information technology: A new era?
Do the advances in information technology equate to a new industrial revolution?...
Do the advances in information technology equate to a new industrial revolution? The advances by IBM, Dell and many other manufacturers have resulted in massive changes to our working lives. This unit looks at whether it is possible to predict the future of this industry by comparing it to the development of the automobile industry in the USA.
After studying this unit you should be able to:
- understand the relationship between technological change and industrial revolutions;
- appreciate the pervasive effect that new technologies can have on the economy and, in particular, on productivity;
- understand how industry dynamics can be analysed using the ‘industrial life cycle’ model;
- use data and historical examples to support economic arguments.
Information technology: a new era?
This unit takes one aspect of the debate concerning the new economy – innovation in the form of the introduction of information and communication technologies – and places it in the historical context of industrial revolutions. Is the new economy really new or ‘just another’ industrial revolution?
This unit is an adapted extract from the course.
Copyright & revisions
- Creative-Commons: The Open University is proud to release this free course under a Creative Commons licence. However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions. Full details can be found in the Acknowledgements section.
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