The Third Industrial Revolution: Technology, Productivity, and Income InequalityAmerican Enterprise Institute, 1997 - 33 lappuses In this text the author argues that rapid technological change, sluggish real wage growth, and widening inequality have characterized earlier periods of economic growth of revolutionary new technologies. |
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30 percent 90 percent diffusion American Enterprise Institute antebellum antebellum period average capital-skill complementarity hypothesis Chairman and CEO comparative advantage complementary computers CONSUMER NONDURABLES David decline demand for skill DeMuth President diesel DIESEL LOCOMOTIVES DIFFUSION CURVE Director Distinguished Fellow dramatic ductivity efficiency Equipment prices equipment relative error bands show fell Gort growth rate Hercowitz INEQUALITY Jeremy Greenwood Information Age information technologies innovations James Q John Jovanovic Juhn Krusell labor productivity learning curve learning effects left scale locomotive machine manufacturing Marvin H Mokyr nologies number of firms Olin operating output percent diffusion level percentile plotted in figure President and CEO producer equipment productiv Productivity is measured Professor of Economics Resident Fellow Resident Scholar Robert rise Senior Fellow skill premium skilled labor SOURCE stock of equipment tech techno technological adoption technological progress Third Industrial Revolution tion Tunzelmann 1994 unskilled labor vacuum tubes Visiting Scholar WAGE INEQUALITY workers wrought iron Yorukoglu 1996
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