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EP138 W. Brian Arthur on the Nature of Technology

The Jim Rutt Show

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The Relationship Between an Economy and Technology

Economists used to say that the economy created every technology. But a much rounder story is that technologies create the economy. The technologys tit gives you the economy, but they also bring along with them the era. So we have an era of railroads, an era of electrical machines and canals before the railroads.

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