The notion that an economically mature technology can be modeled as a free monoid is trivial because the technology is going to be completely described and communicated by standardized instructions (mechanical, logical, verbal, etc.), wherein the instructions are concatenated sentences from a specialized dictionary ( Read more... )

75 percent of Chinese respondents are inclined to ride in an autonomous taxi, compared to 52 percent of Americans ( Read more... )

Over the last 60 years, Asia absorbed an enormous amount of technology transfer from the US. Moreover, they are now capable of technology development themselves. By contrast, Germany does very little technology transfer to the rest of the world. Their education system is geared toward internal absorption, rather than export.
When it gets down to ( Read more... )

I advance the hypothesis here that technical change in general can be ascribed to experience, that it is the very activity of production which gives rise to problems for which favorable responses are selected over time ( Read more... )

"technology is the sum total of what we know about how to use labor and capital ouput. also often refered to as productivity.
25-30% of improvement in productivity comes from new [business] machinery. the rest comes from better business organization and management ( US data).

y=f(N,K,A)=A*Kx*N1-x ( Duglas production function ( Read more... )