Classical writers such as John Stuart Mill and Karl Marx speculated that the standard of living could not rise indefinitely unless advances in technology increased the yield of the means of production. Neoclassical growth theory, based on capital accumulation, supports this intuition [1]. Digital tools increase personal productivity. Communication technologies enhance the coordination among individuals and increase the efficacy and efficiency of collective efforts. In both ways, technology contributes with wealth creation and the overall welfare of the community.

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Incae Business School

Barahona, J.C, & Pentland, A. (2007). Advice Networks and Local Diffusion of Technological Innovations. In Communities and Technologies 2007 (pp. 509–529). Springer Science & Business Media. doi:10.1007/978-1-84628-905-7_25