Review article
https://doi.org/10.20901/pm.60.1.05
A Short Overview of the Political Economy Of Technological Change
Marko Grdešić
; Faculty of Political Sciences, University of Zagreb
Abstract
Technological change is one of the most important forces shaping modern society. Which perspectives can help us understand technological change, especially from a political economy lens? The first part of this article provides a basic overview of debates that shaped this scientific field, starting with nineteenth century British political economy. Liberal political economists as well as their critics of the time both saw the machinery question as a paramount challenge to British society, especially with regard to the problem of technological unemployment. The second part of the article turns to neoclassical economics and the conceptual tools that it uses to understand technology. Critiques of the neoclassical approach are also included, of which Schumpeter’s critique is the most important. The third part of the article turns to the contemporary literature on “skill-biased technological change” which rewards those that have the skills that complement digital technology and punishes those that do not.
Keywords
Technology; Innovation; Political Economy; Capitalism; Inequality
Hrčak ID:
300936
URI
Publication date:
27.4.2023.
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