Technological Retrogression: A Schumpeterian Interpretation of Modernization in Reverse

This book aims to broaden our understanding of technological change by adopting the concept of technological retrogression and contrasting it to progressive dynamics as developed by Schumpeter. It explores how capital-strong production units can innovate their way out of recession through technological progress, leading to virtuous spirals of growth, while producers resorting to technological retrogression can result in low labor productivity and vicious spirals of decline, contributing to understanding the anatomy of recessions.

Format: Hardback
Length: 252 pages
Publication date: 08 June 2021
Publisher: Anthem Press

The aim of this book is to broaden our understanding of technological change by adopting the concept of technological retrogression. With reference to concrete cases of technological retrogression, a new conceptual framework is developed. The book's exposition aims at contrasting retrogressive economic dynamics of technological change to progressive dynamics as developed by Schumpeter. At one extreme in the dimension of technological change, capital-strong production units innovate their way out of the recession through technological progress, adopting more advanced production equipment that improves productivity. Following Schumpeterian progressive dynamics, virtuous spirals of growth result. At the other end, we find the producers that resort to technological retrogression, which secures survival but which results in low labor productivity, diminishing the possibility of capital accumulation and thus modernization that could form an escape from poverty. Vicious spirals of decline result, which is the book's main object of analysis. The theory is thus a contribution to understanding the anatomy of recessions.

The aim of this book is to broaden our understanding of technological change by adopting the concept of technological retrogression. With reference to concrete cases of technological retrogression, a new conceptual framework is developed. The book's exposition aims at contrasting retrogressive economic dynamics of technological change to progressive dynamics as developed by Schumpeter. At one extreme in the dimension of technological change, capital-strong production units innovate their way out of the recession through technological progress, adopting more advanced production equipment that improves productivity. Following Schumpeterian progressive dynamics, virtuous spirals of growth result. At the other end, we find the producers that resort to technological retrogression, which secures survival but which results in low labor productivity, diminishing the possibility of capital accumulation and thus modernization that could form an escape from poverty. Vicious spirals of decline result, which is the book's main object of analysis. The theory is thus a contribution to understanding the anatomy of recessions.

Weight: 454g
Dimension: 229 x 153 x 26 (mm)
ISBN-13: 9781785277139