Technological diffusion drives inclusive growth from "summary" of Theory of Economic Growth by W. Arthur Lewis
The process of technological diffusion plays a crucial role in driving inclusive growth within an economy. When new technologies are introduced and adopted by a wide range of firms and individuals, it leads to increased productivity and efficiency across various sectors. This, in turn, has a positive impact on economic growth and development, as more people are able to participate in and benefit from the growing economy. One of the key mechanisms through which technological diffusion drives inclusive growth is by reducing barriers to entry and expanding opportunities for participation in the economy. As new technologies become more widespread, they often become more affordable and accessible to a larger segment of the population. This allows more people, including those from marginalized communities, to take advantage of these technologies and participate in economic activities that were previously ou...
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