Technology, Growth and Development: The Dynamics of Catching Up, Falling Behind and Leaping Ahead
Introduction This chapter is concerned with the political and economic thinking behind sustained development, using technological capabilities as its basis. As such, it is concerned with processes of catching up, falling behind, and, most importantly, leaping ahead. Anyone casually aware of Britain's nineteenth-century fall from empire, Argentina's lost ground as a regional, cultural and economic power early in the twentieth century, or the postwar rise of Singapore, Japan, and South Korea, would recognize the importance of this complex of dynamics. They might also recognize that traditional approaches to understanding growth and development - such as Ricardian trade theory, Vernon's obsolescence bargain, or notions of comparative advantage - do not possess sufficiently robust explanatory power.