1945

Creating technological capabilities

Technological progress, or rather the ability to generate new technology and to put it to use, has been the major determinant of the wealth of nations. It was the capacity of the present-day developed countries to generate and use technology that powered the Industrial Revolution, thereby producing a hitherto unparalleled increase in the living standards of their populations. In the twentieth century, the “green revolution” saw the advance and application of technology to increase agricultural yields in many developing countries. This removed from many millions of people the spectre of famine.

Related Subject(s): Economic and Social Development
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