The Economics of Localized Technological Change and Industrial Dynamics

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Localized technological change focuses on specific advancements that enhance total factor productivity within a narrow range of techniques, differing from generalized technological change, which involves widespread shifts across all techniques. This concept bridges various approaches in the economics of innovation and new technologies, highlighting the significance of targeted technological improvements in productivity. The book delves into the implications and applications of this localized approach within the broader context of economic theory.