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"technology is the sum total of what we know about how to use labor and capital ouput. also often refered to as productivity.
25-30% of improvement in productivity comes from new [business] machinery. the rest comes from better business organization and management ( US data).
y=f(N,K,A)=A*Kx*N1-x ( Duglas production function).
nb: technology influence on income per worker. Y/N
http://webcast.berkeley.edu/courses/stream.php?type=real&webcastid=17258
25-30% of improvement in productivity comes from new [business] machinery. the rest comes from better business organization and management ( US data).
y=f(N,K,A)=A*Kx*N1-x ( Duglas production function).
nb: technology influence on income per worker. Y/N
http://webcast.berkeley.edu/courses/stream.php?type=real&webcastid=17258