Advertisement

Productivity, Innovation and Social Savings

  • Gerben Bakker
Chapter
Part of the Palgrave Studies in Economic History book series (PEHS)

Abstract

Since the late 1930s, economists have noted an increase in economic efficiency, leading to higher welfare levels and social savings. Key to understand this development is the quantification of the impact of innovations and new technologies. This chapter discusses growth accounting and allied methodologies and how they may help to quantify innovation-led increases in efficiency and welfare benefits.

JEL Classification

E01 N70 O47 

Reading List

  1. Abramovitz, Moses. 1956. Resource and Output Trends in the United States since 1870. American Economic Review 46 (2): 5–23.Google Scholar
  2. Antràs, Pol, and Hans-Joachim Voth. 2003. Factor Prices and Productivity Growth During the British Industrial Revolution. Explorations in Economic History 40 (1): 52–77.Google Scholar
  3. Bakker, Gerben. 2008. Entertainment Industrialised. The Emergence of the International Film Industry, 1890–1940. Cambridge: Cambridge University Press.Google Scholar
  4. ———. 2012. How Motion Pictures Industrialized Entertainment, Journal of Economic History 72 (4): 1036–1063.Google Scholar
  5. ———. 2014. Soft Power: The Media Industries in Britain since 1870. In The Cambridge Economic History of Modern Britain, ed. Roderick Floud, Jane Humphries, and Paul Johnson, 4th ed., 416–447. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  6. Bakker, Gerben, Nicholas Crafts, and Pieter Woltjer. 2018. The Sources of Growth in a Technologically Progressive Economy: The United States, 1899–1941. The Economic Journal, forthcoming.Google Scholar
  7. Barton, Glen Thomas, and Martin R. Cooper. 1948. Relation of Agricultural Production to Inputs. Review of Economics and Statistics 30 (2): 117–126.Google Scholar
  8. ———. 1993. The Economic Way of Looking at Behavior. Journal of Political Economy 101 (3): 385–409.Google Scholar
  9. Bresnahan, Timothy F., and Robert J. Gordon. 1997. Introduction. In The Economics of New Goods, ed. Timothy Bresnahan and Robert Gordon, 1–26. Chicago: University of Chicago Press.Google Scholar
  10. Broda, Christian and David E. Weinstein. 2006. Globalization and the Gains from Variety. Quarterly Journal of Economics 121 (2): 541–585.Google Scholar
  11. Copeland, Morris A. 1937. Concepts of National Income. In Studies in Income and Wealth, vol. 1, 3–63. New York: National Bureau of Economic Research.Google Scholar
  12. Copeland, Morris A., and E.M. Martin. 1938. The Correction of Wealth and Income Estimates for Price Changes. In Studies in Income and Wealth, vol. 2, 85–135. New York: National Bureau of Economic Research.Google Scholar
  13. Crafts, N. 1989. Revealed Comparative Advantage in Manufacturing, 1899–1950. Journal of European Economic History 18 (1): 127–137.Google Scholar
  14. ———. 1997. Some Dimensions of the ‘Quality of Life’ during the British Industrial Revolution. Economic History Review 50 (4): 617–639.Google Scholar
  15. Crafts, Nicholas. 2003. Is Economic Growth Good for Us? World Economics 4: 35–49.Google Scholar
  16. ———. 2009. Solow and Growth Accounting: A Perspective from Quantitative Economic History. History of Political Economy 41 (supl. 1): 200–220.Google Scholar
  17. ———. 2010. The Contribution of New Technology to Economic Growth: Lessons from Economic History. Revista de Historia Economica: Journal of lberian and Latin American Economic History 28: 409–440.Google Scholar
  18. Cutler, David M., and Elizabeth Richardson. 1997. Measuring the Health of the U.S. Population. Brookings Papers: Microeconomics 28: 217–282.Google Scholar
  19. Fogel, Robert William. 1962. A Quantitative Approach to the Study of Railroads in American Economic Growth. A Report of Some Preliminary Findings. Journal of Economic History 22 (2): 163–197.Google Scholar
  20. Foreman-Peck, J.S. 1991. Railways and Late Victorian Economic Growth. In New Perspectives on the Late Victorian Economy; Essays in Quantitative Economic History, ed. J.S. Foreman-Peck, 73–95. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  21. Frech, H.E., III, and Richard D. Miller Jr. 1999. The Productivity of Healthcare and Pharmaceuticals. Washington, DC: American Enterprise Institute.Google Scholar
  22. Goolsbee, Austan, and Peter J. Klenow. 2006. Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet. American Economic Review 96 (2): 108–113.Google Scholar
  23. Griliches, Zvi. 1961. Hedonic Price Indexes for Automobiles: An Econometric of Quality Change. In The Price Statistics of the Federal Government, 173–196. New York: National Bureau of Economic Research.Google Scholar
  24. ———. 1996. The Discovery of the Residual: A Historical Note. Journal of Economic Literature 34 (3): 1324–1330.Google Scholar
  25. Harley, C. Knick. 1999. Reassessing the Industrial Revolution: A Macro View. In The British Industrial Revolution: An Economic Perspective, ed. Joel Mokyr, 2nd ed., 160–205. Oxford: Westview Press.Google Scholar
  26. Hausman, Jerry. 1997. Valuing the Effect of Regulation on New Services in Telecommunications. Brookings Papers on Economic Activity: Microeconomics 28: 1–38.Google Scholar
  27. ———. 2003. Sources of Bias and Solutions to Bias in the Consumer Price Index. Journal of Economic Perspectives 17 (1): 23–44.Google Scholar
  28. Hawke, G.R. 1970. Railways and Economic Growth in England and Wales, 1840–1870. Oxford: Clarendon Press.Google Scholar
  29. Hersh, Jonathan, and Joachim Voth. 2009. Sweet Diversity: Colonial Goods and the Rise of European Living Standards after 1492. Economics Working Papers 1163, Department of Economics and Business, Universitat Pompeu Fabra. Revised January 2011.Google Scholar
  30. Hoffman, Philip T. 1996. Growth in a Traditional Society: The French Countryside, 1450–1815. Princeton, NJ: Princeton University Press.Google Scholar
  31. Hulten, Charles R. 2001. Total Factor Productivity: A Short Biography. In New Developments in Productivity Analysis, ed. C. Hulten, Edwin R. Dean, and Michael J. Harper, 1–54. Chicago: NBER/University of Chicago Press.Google Scholar
  32. Johnson, D. Gale. 1950. The Nature of the Supply Function for Agricultural Products. American Economic Review 40 (4): 539–564.Google Scholar
  33. Kendrick, John W. 1956. Productivity Trends: Capital and Labor. Review of Economics and Statistics 38 (3): 248–257.Google Scholar
  34. Leunig, Timothy. 2006. Time is Money: A Re-assessment of the Passenger Social Savings from Victorian British Railways. Journal of Economic History 66 (3): 635–673.Google Scholar
  35. Leunig, Tim. 2010. Social Savings. Journal of Economic Surveys 24 (5): 775–800.CrossRefGoogle Scholar
  36. Nordhaus, William D. 1997. Do Real-output and Real-wage Measures Capture Reality? The History of Lighting Suggests Not. In The Economics of New Goods, ed. Timothy F. Bresnahan and Robert J. Gordon, 29–70. Chicago: University of Chicago Press.Google Scholar
  37. ———. 2005. Irving Fisher and the Contribution of Improved Longevity to Living Standards. American Journal of Economics and Sociology 64 (1): 367–392.Google Scholar
  38. ———. 2007. Two Centuries of Productivity Growth in Computing. Journal of Economic History 67 (1): 128–159.Google Scholar
  39. Raff, Daniel, and Manuel Trajtenberg. 1997. Quality-Adjusted Prices for the American Automobile Industry, 1906-1940. In The Economics of New Goods, ed. Timothy Bresnahan and Robert Gordon, 29–70. Chicago: Chicago University Press.Google Scholar
  40. Requena-Silvente, Francisco, and James Walker. 2006. Calculating Hedonic Price Indices with Unobserved Product Attributes: An Application to the UK Car Market. Economica 73 (291): 509–532.Google Scholar
  41. Ruttan, Vernon W. 1956. The Contribution of Technological Progress to Farm Output: 1910–1950. Review of Economics and Statistics 38 (1): 61–69.Google Scholar
  42. Schmookler, Jacob. 1952. The Changing Efficiency of the American Economy: 1869–1938. Review of Economics and Statistics 34 (3): 214–321.Google Scholar
  43. Solow, Robert M. 1957. Technical Change and the Aggregate Production Function. Review of Economics and Statistics 39 (3): 312–320.Google Scholar
  44. Stigler, George J. 1947. Trends in Output and Employment. New York: National Bureau of Economic Research.Google Scholar
  45. Tinbergen, Jan. 1942. Zur Theorie der Langfristigen Wirtschaftsentwicklung. In Weltwirtschaftliches Archiv, vol. 1, 511–549. Amsterdam. Reprinted in English translation in Selected Papers (North-Holland, 1959).Google Scholar

Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Gerben Bakker
    • 1
  1. 1.London School of Economics and Political ScienceLondonUK

Personalised recommendations