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Published in:
2007 | OriginalPaper | Chapter
Advice Networks and Local Diffusion of Technological Innovations
Authors : Juan Carlos Barahona, Alex Sandy Pentland
Published in: Communities and Technologies 2007
Publisher: Springer London
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Classical writers such as John Stuart Mill and Karl Marx speculated that the standard of living could not rise indefinitely unless advances in technology increased the yield of the means of production. Neoclassical growth theory, based on capital accumulation, supports this intuition [
1
]. Digital tools increase personal productivity. Communication technologies enhance the coordination among individuals and increase the efficacy and efficiency of collective efforts. In both ways, technology contributes with wealth creation and the overall welfare of the community.