As Time Goes By From the Industrial Revolutions to the Information Revolution

What are the reasons for the rise and fall of different economies,sectors, and firms? What is the role of entrepreneurship and technology ineconomic growth? How can we best understand the impact of revolutionarytechnologies on business organization and the business cycle?These are just some of the questions addressed in this authoritative analysis ofmodern economic growth from the Industrial Revolution to the 'New Economy' ofthe present. Chris Freeman has long been regarded as one of the foremostanalysts of innovation and technological change, and for this volume teams upwith former colleague Francisco Louca. They chart the history of fivetechnological revolutions - water-powered mechanization, steam-poweredmechanization, electrification, mass production, and computerization - and showhow mainstream economics turned away from studies of growth, innovation, andentrepreneurship. Freeman and Louca argue in favour of a central role foreconomic agents, organizations, and institutions in any adequate analysis ofgrowth.This is an informed, persuasive, and very readable study that will commandattention across the social sciences.

Chris Freeman is Emeritus Professor at SPRU, University of Sussex. After studying at the London School of Economics, he later took up the position of Research Fellow at the National Institute of Economic and Social Research, London (1959-66) before becoming Director of the Science Policy Research Unit at the University of Susex (1966-81). His most recent position was Visiting Professor at the University of Limburg in Maastricht (1986-96). He is the author of numerous books including 'The Economics of Industrial Innovation' (with L. Soete, Pinter, 1997); 'Work for All or Mass Unemployment: Computerised Technical Change into the 21st Century' (with L. Soete, Pinter, 1994); and 'Technology and Economic Performance: Lessons from Japan' (Pinter, 1987). Francisco Louca is Professor of Economics in the Faculty of Economics and Management at the ISEG, Lisbon. He obtained his Ph.D. in Economics at the University of Lisbon under the supervision of Chris Freeman, subsequently publishing his thesis in both English and Portuguese ('Turbulence in Economics', Edward Elgar 1997). In 1999 he was elected Member of Parliament in Portugal, and serves in the Economic and Budgetary Commission.