RT Generic
T1 The scientific revolution and its role in the transition to sustained economic growth
A1 Lehmann-Hasemeyer,Sibylle
A1 Prettner,Klaus
A1 Tscheuschner,Paul
WP 2020/04/22
AB We propose a Unified Growth model that analyzes the role of the Scientific Revolution in the takeoff to sustained modern economic growth. Basic scientific knowledge is a necessary input in the production of applied knowledge, which, in turn, fuels productivity growth and leads to rising incomes. Eventually, rising incomes instigate a fertility transition and a takeoff of educational investments and human capital accumulation. In regions where scientific inquiry is severely constrained (for religious reasons or because of oppressive rulers), the takeoff to modern growth is delayed or might not occur at all. The novel mechanism that we propose for the latent transition towards the takeoff could contribute to our understanding of why sustained growth emerged first in Europe.
K1 Wissenschaftliche Revolution
K1 Industrielle Revolution
K1 Grundlagenforschung
K1 Angewandte Wissenschaften
K1 Wirtschaftswachstum
K1 Nachhaltigkeit
PP Hohenheim
PB Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim
UL http://opus.uni-hohenheim.de/volltexte/2020/1744