S2 E6: Inventors/Engineers, Directed Technical Change, and the British Industrial Revolution with Walker Hanlon from Northwestern University
The Innovation and Diffusion Podcast
The Shift from Laissez-Faire: Understanding Government's Role in Innovation
This chapter explores the evolution of Britain's laissez-faire government approach between 1800 and 1914, highlighting the initial minimal intervention in the economy. It discusses how the complexities of the Industrial Revolution and significant market failures led to increased government regulation, addressing issues like externalities and information asymmetries.
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