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ResearchPaper
2020
The scientific revolution and its role in the transition to sustained economic growth
The scientific revolution and its role in the transition to sustained economic growth
Abstract (English)
We propose a Unified Growth model that analyzes the role of the Scientific Revolution in the takeoff to sustained modern economic growth. Basic scientific knowledge is a necessary input in the production of applied knowledge, which, in turn, fuels productivity growth and leads to rising incomes. Eventually, rising incomes instigate a fertility transition and a takeoff of educational investments and human capital accumulation. In regions where scientific inquiry is severely constrained (for religious reasons or because of oppressive rulers), the takeoff to modern growth is delayed or might not occur at all. The novel mechanism that we propose for the latent transition towards the takeoff could contribute to our understanding of why sustained growth emerged first in Europe.
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Publication license
Publication series
Hohenheim discussion papers in business, economics and social sciences; 2020,06
Published in
Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
Examination date
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DOI
ISSN
ISBN
Language
English
Publisher
Publisher place
Classification (DDC)
330 Economics
Original object
Free keywords
Scientific revolution Industrial revolution Basic science Applied science Takeoff to sustained growth Unified growth theory
Standardized keywords (GND)
Wissenschaftliche Revolution Industrielle Revolution Grundlagenforschung Angewandte Wissenschaften Wirtschaftswachstum Nachhaltigkeit
Sustainable Development Goals
BibTeX
@techreport{Tscheuschner2020,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6496},
author = {Tscheuschner, Paul and Lehmann-Hasemeyer, Sibylle and Prettner, Klaus et al.},
title = {The scientific revolution and its role in the transition to sustained economic growth},
year = {2020},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}