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2022 | OriginalPaper | Chapter

4. Hardware and Software

Author : Jakub Growiec

Published in: Accelerating Economic Growth

Publisher: Springer International Publishing

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Abstract

The humankind pursues local control maximization by performing premeditated actions, the sum of which sets the course of development of the human civilization. The macroeconomic way of looking at it assumes an aggregate production function, describing how inputs are transformed into aggregate output. This chapter introduces the hardware–software framework, which assumes that producing output requires (i) physical action and (ii) code, a set of instructions describing the action. Physical action is performed by hardware while the code is provided by the software. Hardware and software are mutually complementary and each of them is essential for production. The chapter proceeds to characterize hardware and software inputs used across human history and offers a typology of final outputs. It elucidates how the accumulation of hardware and software inputs and their cumulative technological improvements propelled accelerating economic growth over the millennia, and how artificial intelligence may carry this process into the future.

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previous chapter The Force Unleashed
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Metadata
Title
Hardware and Software
Author
Jakub Growiec
Copyright Year
2022
Book
Accelerating Economic Growth

Print ISBN: 978-3-031-07194-2

Electronic ISBN: 978-3-031-07195-9

Copyright Year: 2022

DOI
https://doi.org/10.1007/978-3-031-07195-9_4