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 words technological progress and/or progress:
“The Church welcomes technological progress and receives it with love, for it is an indubitable fact that technological progress comes from God and, therefore, can and must lead to Him.”
—Pius XII [Eugenio Pacelli] (1876–1958)
“This pond never breaks up so soon as the others in this neighborhood, on account both of its greater depth and its having no stream passing through it to melt or wear away the ice.... It indicates better than any water hereabouts the absolute progress of the season, being least affected by transient changes of temperature. A severe cold of a few days’ duration in March may very much retard the opening of the former ponds, while the temperature of Walden increases almost uninterruptedly.”
—Henry David Thoreau (1817–1862)