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Book Summary of The Economics of Hope: Essays on Technical Change, Economic Growth and the Environment by Christopher Freeman
Citation:
The Economics of Hope: Essays on Technical Change, Economic Growth and the Environment, Christopher Freeman, (New York: Pinter Publishers, 1992), 243 pp.
This Book Summary written by: T.A. O'Lonergan, Conflict Research Consortium
The Economics of Hope: Essays on Technical Change, Economic Growth and
the Environment will be of interest to those who seek to understand
the limitations of purely economic considerations for evaluation of proposed
economic growth. This work is divided into three parts, the first of which
addresses policies for allocation of resources to scientific and
technical activities. The first chapter discusses JD Bernal's book,
The Social Function of Science. Freeman moves from here
to a discussion of science and economy at the national level. He closes
the section with an examination of the relationship between design
activities and Britain's competitive international trade
performance.
The second part addresses the theory of innovation and evolutionary
economics. The author begins with a discussion of the nature of innovation
and the evolution of the productive system. Next, networks of
innovators are examined. Finally, the author discusses the relationship between
innovations and changes in the techno-economic paradigm,
and the use of biological analogies in economics.
The final part focuses on the proposed effects of the inclusion of values
as a consideration in decisions about economic growth. Freeman begins with a
response to Robert Heilbroner's book Human Prospect.
The author proposes the adoption of a green techno-economic
paradigm for the world economy. Finally, the author examines the
inter-relationships among technology, progress and the quality of life.
The text is followed by an epilogue which suggests requirements for science and
technology policy in the 1990s. The text is supported by tables and
figures which the reader will find beneficial. The Economics of Hope: Essays
on Technical Change, Economic Growth and the Environment is an
examination of the complexities of the inter-relationships of science,
technology, economic growth and the environment.
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