Economic growth is driven by technological innovation from "summary" of Basic Economics by Thomas Sowell
Technological innovation is a key driver of economic growth. When new technologies are developed, they often lead to increases in productivity, which in turn can drive economic growth. These new technologies can make it easier for businesses to produce goods and services more efficiently, leading to increased output and profits. Innovations in technology can also open up new markets and create new opportunities for growth. For example, the invention of the internet revolutionized the way people communicate and do business, leading to the creation of ...
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