Technological diffusion:European experience to 1850

Technological Diffusion : European Experience to 1850

Technological progress is one of the key factors that affect economic development of the country . In the article Technological Diffusion European Experience to 1850 ' Charles Kindleberger discusses how technological progress of Britain was diffused to the Continent . In particular , the author highlights key transmission mechanisms identifying the differences in the speed of penetration . Kindleberger suggests that technological progress plays important role , and I fully agree with him because level of technological advance is directly related to economic development . Many of developing and undeveloped countries

lack exactly technological progress to foster economic growth Thus , Kindleberger shows that economic growth of developing countries is related to their abilities to absorb foreign technologies and to develop their own . Technological progress can 't be explained solely by economic factors

Kindleberger argues that rates of economic growth are attributed to catching up technical capacity . theless , the drivers of technological progress are different . For example , some countries are driven by the pressure of wartime demands , whereas others are driven by recovery from destruction and dislocation . Many developing countries are striving to apply the leader 's technological advances within the frame of their economies . I don 't see anything bad in that as every country is willing to develop economically , to improve living standards and to decrease poverty rates . Many countries lack scientists and innovators and , thus , foreign technologies remain the only effective way to improve country 's position

Kindleberger says that social capability explains the failure of many developing countries...