Technology drives longrun economic growth from "summary" of Principles of Macroeconomics by N. Gregory Mankiw
Technological progress is a key driver of long-run economic growth. As new technologies are developed, they enable firms to produce more output with the same amount of inputs. This increase in productivity leads to higher economic growth rates in the long run. One way that technology drives economic growth is through the process of creative destruction. When new technologies are introduced, they often make older technologies obsolete. This can lead to disruptions in certain industries, but it also creates opportunities for new industries to emerge. In the long run, this process of creative destruction leads to higher levels of productivity and...
Read More
Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.
