2011
DOI: 10.1093/ajae/aaq191
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Innovation and Productivity Growth: T.W. Schultz Lecture

Abstract: “The puzzle confronting economists has been that the rate of growth of output that was being observed has been much larger than the rate of increase in the principal resources that were being measured. It is now clear that this puzzle is of our own making because we have been using measures of capital and labor which had been refined and narrowed in ways that excluded many of the improvements that have been made in the quality of these resources.” Theodore W. Schultz (1962).

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Cited by 40 publications
(13 citation statements)
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“…1 ). Today, despite its relatively small contribution to gross domestic product, U.S. agriculture has accounted for 15% of total U.S. productivity growth since 1960 ( 32 ), and at times, agricultural productivity growth has averaged almost 10 times the economy-wide productivity growth rate. In addition, major structural transformations are still underway ( Fig.…”
Section: Discussionmentioning
confidence: 99%
“…1 ). Today, despite its relatively small contribution to gross domestic product, U.S. agriculture has accounted for 15% of total U.S. productivity growth since 1960 ( 32 ), and at times, agricultural productivity growth has averaged almost 10 times the economy-wide productivity growth rate. In addition, major structural transformations are still underway ( Fig.…”
Section: Discussionmentioning
confidence: 99%
“…Innovations have been an important part of the process of economic development. Technological progress is a major contributor to productivity improvements and income growth (Jorgenson 2011). This can be seen in agriculture (Mundlak 2000;Pardey, Alston, and Ruttan 2010;Fuglie and Wang 2012).…”
Section: Introductionmentioning
confidence: 99%
“…Many neoclassical economists, other technology supporters and some empiricists [18][19][20] argue that technological advancements will allow indefinite growth in agricultural productivity. They postulate that new technology [such as Genetically Modified Organisms (GMOs) or better irrigation systems] will make crop production yields higher and also more efficient.…”
Section: Introductionmentioning
confidence: 99%