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The Economics of Power, Knowledge and Time: (New Horizons in the Economics of Innovation series)

The Economics of Power, Knowledge and Time: (New Horizons in the Economics of Innovation series)


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About the Book

This text systematically analyses the micro-foundations of capital and technological innovation in a way that takes into account the dynamics of the relationships between knowledge and time, power and knowledge and power and time. It treats capital as a socio-economic phenomenon - one that is intimately linked to knowledge and to the scope of the options available for future economic development. It highlights the essential role of money-capital circulation time in forging the character of socio-economic institutions and their consequences for the selection of new technologies and for labour. Technological change in the electricity industry in the UK provides historical material for a reinterpretation of the insights of Commons, Marx, Veblem and others and of the implications of market liberalization.

Table of Contents:
Contents: Foreword 1. Introduction 2. Power, Technology and Institutions in the Process of Capital Formation 3. A Critique of the Marxian Framework for the Analysis of Technology and Organization 4. Technology, Organization and the Turnover Time of Capital: The Transformational and Distributive Capacities of Socio-economic and Technical Systems 5. States and Markets Transformational and Distributive Capacity: Political Governance in the United Kingdom 6. Political Governance, Technology Selection and Endogenous Money: The Making of State-of-the-Art Technology in Electricity Generation 7. Conclusion Bibliography Index

About the Author :
Michèle Javary, Centre for Research on Innovation Management (CENTRIM), University of Brighton, UK

Review :
'Michele Javary takes on a major challenge in this book - the systematic analysis of the micro-foundations of capital and technological innovation in a way that takes into account the dynamics of the relationships between knowledge and time, power and knowledge, and power and time. Javary treats capital as a socio-economic phenomenon; one that is intimately linked to knowledge and to the scope of the options available for future economic development. She highlights the essential role of money-capital circulation time in forging the character of socio-economic institutions and their consequences for the selection of new technologies and for labour. Technological change in the electricity industry in the United Kingdom provides the historical material for a very insightful reinterpretation of the insights of Commons, Marx, Veblen, and others and of the implications of market liberalization. This book offers a new and much-needed understanding of the political-economy of technological change in modern times. This book should be required reading for all those with an interest in technological change, the management of innovation, and the organisation of the economy.' 'This is a remarkable and highly original book. Not since Shackle has anyone made such an interesting study of the role of time in economics, and not since Marx has anyone tackled the question of the turnover time of capital in the context of political power, and the role of knowledge in relation to that power. Many books in economics are marginal in both senses of the word - they are in the marginalist neo-classical tradition, and they add little to the body of knowledge. This book is not marginal in either sense: it tackles some of the most fundamental questions in economic theory and it adds a great deal to our knowledge about them.'


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Product Details
  • ISBN-13: 9781840646313
  • Publisher: Edward Elgar Publishing Ltd
  • Publisher Imprint: Edward Elgar Publishing Ltd
  • Height: 234 mm
  • No of Pages: 192
  • Width: 156 mm
  • ISBN-10: 1840646314
  • Publisher Date: 22 Aug 2002
  • Binding: Hardback
  • Language: English
  • Series Title: New Horizons in the Economics of Innovation series


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