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 What is a Technological Change? « Zobacz poprzedni temat :: Zobacz następny temat » 
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sohaibkhalid614
PostWysłany: Wto Lip 02, 2019 9:27 am    Temat postu: What is a Technological Change? Odpowiedz z cytatem

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Dołączył: 13 Gru 2018
Posty: 5

In economics, a technological change is an increase in the efficiency of a product or process that results in an increase in output, without an increase in input. In other words, someone invents or improves a product or process, which is then used to get a bigger reward for the same amount of work.

The telephone is an example of a product that has undergone a technological change. It has undergone many different changes over the years that have made it more efficient. Processes or products, such as the telephone, move through technological change in three stages:

Invention - the creation of a new product or process
Innovation - the application of the invention for the first time
Diffusion - how fast others begin to adopt the innovation
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md tutul
PostWysłany: Nie Paź 06, 2019 7:09 pm    Temat postu: Odpowiedz z cytatem

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Dołączył: 26 Wrz 2019
Posty: 5

Technological change leads to changed cultural consumption. The purpose of this chapter is to examine this process using neoclassical and evolutionary frameworks of economic analysis. We find that technological change, particularly in digital computation and media technologies, has multiple effects on the quantities, mixes, and varieties of cultural consumption, and even on our preferences over types of cultural consumption. Technological change does not just mean more, but also means different.

How new technology effects cultural consumption is – perhaps surprisingly, given its ubiquity – a little-studied branch of economic analysis. Although the conditions of demand for arts and culture has received considerable attention (e.g. Throsby, 1994; Blaug, 2001), as has the question of how new technologies affect the supply of arts and culture (e.g. Caves, 2000; Baumol, 2006), there has been a deficit of attention in the economics of arts and culture to examining the connection between new technology and changed patterns of cultural consumption. The default assumption has for the most part been that new technology primarily affects arts and cultural production, which then flows through to changed consumer behavior by shifts in relative prices or new goods and services, or by feedback effects operating on changed consumption opportunities. The effect may also be understood as operating directly from new technology to new consumption behaviors. Or it may work in the opposite direction, when changed cultural consumption affects the incentives associated with new technologies. There is a great deal of research to be done and what follows in this chapter is only an outline of the key dimensions of that task.

There are two obvious starting points: broadly, ‘creative industries’ or the ‘cost disease’, depending upon the nature of new technologies’ impact on cultural consumption. In the creative industries model, new technology is the powerful trajectory associated with epochal changes in digital new media and its transformative impact on cultural consumption (e.g. Howkins, 2001; Hartley, 2005). This focuses on large falls in price including to zero (Anderson, 2009) associated with the crisis of business models in some domains (music, film, newspapers), increased propensity to pay in others (subscription TV, mobile telephony), and radical segmentation of markets (divergence) in the context of technological convergence. Driving this are new technologically driven opportunities over cultural consumption possibilities, particularly in respect of digitally mediated socially interactive possibilities. This ‘new media’ line focuses on the rise of the amateur (Leadbeater and Miller 2004; Leadbeater, 2008), consumer co-creation, and ‘convergence culture’ (Banks and Potts, 2010; Jenkins, 2006), among other factors. Wider economic analysis of this approach to the effect of new technology on patterns of demand can be found in Cowen (2002, 2008) and Potts (2011), both of whom also connect this to a context of globalization and economic evolution. Sections 9.3–9.5 draw on this interpretation of new digital technology, and its implications for cultural consumption in re-shaping patterns of demand and preferences.

A second way to connect new technology to cultural consumption analytically is via a generalization of the ‘cost disease’ model from its initial analytic domain in the live arts to consideration of a broader production context (Baumol and Bowen, 1966; Baumol, 2006). Baumol’s argument was that new technology has a lesser productivity effect on live cultural production than most other sectors. This raises the real cost of such production (in Baumol’s example, a string quartet performance) and therefore the price, leading to reduced consumer demand (Felton, 1994; Heilbrun and Gray, 2001, p. 139; Preston and Sparveiro, 2009). The ‘cost disease’ model makes specific conjectures about the relative strength of income and substitution effects. It has found a range of empirical support in certain classical or core segments of live cultural production (Throsby, 1994; Blaug, 2001). Yet Cowen (1996) argues that the model does not account for the positive effects on cultural consumption of new technology in cultural production, particularly in distribution and embedding in other products. This point was readily conceded by Baumol (2006).

Thus, we have a model in which technological change affects cultural consumption by lowering its price and furnishing new consumption possibilities, and also a model of new technology affecting other sectors to a greater extent than culture, raising the relative cost and price of cultural consumption. So, does technological change increase or decrease the marginal price of cultural consumption? The answer depends upon which parts of cultural consumption we refer to. Technological change affects the relative price of cultural consumption, but also the relative price of cultural substitutes and complements. It offers new cultural consumption possibilities and shapes new cultural preferences. Technological change and the dynamics of cultural consumption are perhaps therefore best understood as co-evolving.

This chapter outlines the standard model of how technological change affects cultural consumption as a normal good with special features (Throsby, 1994; Caves, 2000). It also examines the co-evolution of technological and cultural economies, considering endogenous preferences, entrepreneurial opportunities, and broad shifts in behaviors, including those associated with risk. This advances an evolutionary economic approach to how digital and new media technology effect cultural consumption and vice versa.
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