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An analysis of the history of technology shows that technological change is exponential, contrary to the common-sense 'intuitive linear' view. So we won't experience 100 years of progress in the 21st century—it will be more like 20,000 years of progress (at today's rate).
Moore (1995) expected that "the rate of technological progress is going to be controlled from financial realities". [129] The reverse could and did occur around the late-1990s, however, with economists reporting that "Productivity growth is the key economic indicator of innovation."
A Technology Readiness Level Calculator was developed by the United States Air Force. [6] This tool is a standard set of questions implemented in Microsoft Excel that produces a graphical display of the TRLs achieved. This tool is intended to provide a snapshot of technology maturity at a given point in time. [7]
The Gartner hype cycle is a graphical presentation developed, used and branded by the American research, advisory and information technology firm Gartner to represent the maturity, adoption, and social application of specific technologies.
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth.It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress.
Advances in technology and technological revolutions which rapidly reduce input costs. [24] Particularly in the era of globalization, the national and international freight rate (shipping, trucking, railfreight, airfreight). Substituted natural resource inputs, or marginal increased cost of non-substituted natural resource inputs. [25]
The development of an explicit technology gap model started with Ponser. The key for the theory is the rate of diffusion of technology. Moving on to 1966, Vernon further extended the technology gap model into the product life-cycle theory. [2] The degree of maturity of the technology became the new key of the dynamic economic trade.
Dramatic changes in the rate of economic growth have occurred in the past because of technological advancement. Based on population growth, the economy doubled every 250,000 years from the Paleolithic era until the Neolithic Revolution .
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