Investment-specific technological progress refers to progress that requires investment in new equipment and structures embodying the latest technology in order to realize its benefits.
Read more about Investment-specific Technological Progress: Introduction, Importance, A Simple Example: The Microwave Oven, How Do You Measure Investment-specific Technological Progress?, Conclusion
Famous quotes containing the words technological progress and/or progress:
“The Church welcomes technological progress and receives it with love, for it is an indubitable fact that technological progress comes from God and, therefore, can and must lead to Him.”
—Pius XII [Eugenio Pacelli] (1876–1958)
“They smote and fell, who set the bars
Against the progress of the stars,
And stayed the march of Motherland!”
—Will Henry Thompson (1848–1918)