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Historical Perspective of the Role of Technology in Economic Development

Jurica Šimurina orcid.org/0000-0002-4806-8894 ; Faculty of Economics and Business, University of Zagreb
Josip Tica orcid.org/0000-0001-7937-1573 ; Faculty of Economics and Business, University of Zagreb

Abstract

The focus of this paper is to investigate technology changes and influence on economies since the First
Industrial Revolution. The First Industrial Revolution was the first point in time when both increase of
GDP per capita and population occurred at the same time (avoiding the Malthusian trap). Thus the selected
point in time. Furthermore, developments of the late 18th and 19th centuries have some common properties
with development of new technologies today. Even though the process of technological change changed
during this time, there are still some lessons to be learned from distant and near history on how to gauge
policies for fostering successful technological advances.
Changes that occurred are relevant for respective economies, industries, companies and individuals. On all
these levels changes occurred that were unprecedented in history before the First Industrial Revolution. It is
not suggested that technological progress of centuries before the First Industrial Revolution was
insignificant, but it certainly did not have such a profound impact in all areas of human life and existence.

Keywords

development; economic history; technology

Hrčak ID:

137204

URI

https://hrcak.srce.hr/137204

Publication date:

29.11.2006.

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