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Essay / Research Paper Abstract
This 5 page paper looks at the arguments put forward by Kenneth L. Sokoloff who argues that the registration of patents provides evidence that inventiveness underpins economic growth. The writer consider the contradiction and support for this assumption and compares the approach taken by Robert Fogel in his book that looked at the role of railroads on economic growth in America. The bibliography cites 2 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEinventg.rtf
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Unformatted sample text from the term paper:
the development of technology. The work of Kenneth L. Sokoloff looks at the time and assesses the level of inventiveness as an indicator of economic growth by assessing the number
of patent registrations. Sokoloff examines these and makes an assumption that there was a reasonable relationship between the allocation of resources and the search for new inventions and that
the inventions will result in the acquisition of patents. The research indicates that between the period of 1790 and 1846 there is a growth in patent levels, but
this is not uniform, with two periods of growth. The first main period of growth is between 1790 and 1812. This time was also a time of economic prosperity with
only a short period when prosperity was interrupted in 1807 with the British interference of the shipping lanes and the Embargo (Sokoloff, 1988). The peak of the level of patent
registration was in 1812 and this then feel. The fall coincides the war when resources are being used elsewhere and the economy is not growing and with the contraction that
is seen after the war (Sokoloff, 1988). The second growth period is during the early 1920s and runs through to the 1836. The beginning of this coincides wit the
revival of the economy and the return to prosperity. The end of this increase is seen to take place when there is a change in the patent law and the
way patents are granted (Sokoloff, 1988). This appears o indicate that there is a connection. However, for any student who makes use f this type of data there
are some major flaws with the research. The appearance is that there is a correlation and form this there is an assumed causation. However, correlation does not always result in
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