POL114H5 Chapter Notes - Chapter 12: Arab Spring, Technological Change, Joseph Schumpeter
Document Summary
The social and economic changes caused by advances in computer and communications technology: economic waves: Joseph schumpeter: in 1939, he explained these waves (in terms of inventions, innovations and diffusion) stimulates a surge in economic activity, after which economic growth slows as the potential from new inventions is exhausted. Creative gales of destruction : sweep old industries aside and replace them with new ones. The 1780s to 1940s- driven by the steam engine and innovations in textile and iron. The 1840s to the 1890s- the era of the railway. The 1890s to the 1930s- driven by electric power, chemical technologies, and improved steels. The 1930s to the 1980s- driven by the automobile and petroleum energy. The second wave- the transition from an agricultural to industrial society. The third wave- the transition from an industrial society to an information society: the information age or information society:
