Productivity Enhancing Technology
A Productivity Enhancing Technology is a technological innovation that enhances economic productivity.
- AKA: Productivity Improving Innovation.
- Context:
- It can range from being a Labor Augmenting Technological Invention to being a Labor Competing Technological Invention.
- See: Factors of Production.
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/Productivity_improving_technologies_(historical) Retrieved:2015-3-21.
- Productivity improving technologies are those technologies that lowered the traditional factors of production of land, labor capital, materials and energy, that go into the production of economic output. Increases in productivity are responsible for the increase in per capita living standards.
Technology is the systems of know how, methods and capital equipment that are used in production of economic output. Technology differs from science in that science is an understanding of natural principles. Technology does not necessarily imply knowledge of why a process works, but what works and sometimes, what does not. Explanations of why processes worked the way they did was an important contributor to the development of science. For example, some principles of chemistry were noticed from smelting and assaying of metals and ores.
Since the beginning of the Industrial Revolution, some of the major contributors to productivity have been as follows:
**# New sources of power
- Energy efficiency in the conversion of energy to useful work, reuse of heat and reduction of friction
- Infrastructures: canals, railroads, highways and pipelines
- Mechanization, industrial machinery, agricultural machines, mining, materials handling: bulk materials, palletization and containerization
- Work practices and processes: The American system of manufacturing, Taylorism or scientific management, mass production, assembly line, modern business enterprise
- Scientific agriculture: fertilizers and the green revolution, livestock and poultry management
- New materials, new process for their production and dematerialization.
- Communications: Telegraph, telephone, radio, satellites, fiber optic network and the Internet
- Home economics: Public water supply, household gas, appliances
- Automation and process control
- Computers and software, data processing.
- Productivity improving technologies are those technologies that lowered the traditional factors of production of land, labor capital, materials and energy, that go into the production of economic output. Increases in productivity are responsible for the increase in per capita living standards.
2008
- Morck, Randall, Bernard Yeung, and Minyuan Zhao. "Perspectives on China's outward foreign direct investment.” In: Journal of International Business Studies 39, no. 3 (2008): 337-350.
- QUOTE: … expansion. In the automaker example above, we imagined a US automaker with unique productivity-enhancing technology taking over foreign automakers and applying its new technology to their operations as well as its own. ...