Investment-specific technological progress refers to progress that requires investment in new equipment and structures embodying the latest technology in order to realize its benefits.
Read more about Investment-specific Technological Progress: Introduction, Importance, A Simple Example: The Microwave Oven, How Do You Measure Investment-specific Technological Progress?, Conclusion
Famous quotes containing the word progress:
“Making such difference ‘twixt wake and sleep
As is the difference betwixt day and night
The hour before the heavenly-harnessed team
Begins his golden progress in the east.”
—William Shakespeare (1564–1616)