The transportation-communication revolution: 50 years of dramatic change in economic development

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dc.contributor.authorConnors, Joseph S.
dc.contributor.authorGwartney, James D.
dc.contributor.authorMontesinos-Yufa, Hugo Moises
dc.date.accessioned2022-07-08T20:50:17Z
dc.date.available2022-07-08T20:50:17Z
dc.date.issued2020-12-01
dc.description.abstractThe Industrial Revolution is a remarkable economic event in world history. It marked the dividing line between the old world of subsistence income levels and the new world of sustained economic growth. Beginning around 1800, technology, machines, and capital formation were finally able to outrun population growth, leading to sustained increases in both income levels and life expectancy. Currently, the world is in the midst of a second economic revolution that is both broader and stronger than the Industrial Revolution, but few are aware of it. During the past half century, expansion in international trade, increased entrepreneurial activities, improvements in economic institutions, and changes in demographics have triggered a remarkable increase in the living standards of people throughout the world. This article will explain the origins and impact of the current economic revolution—the Transportation-Communication Revolution—and compare it with the Industrial Revolution.en_US
dc.identifier.citationConnors, J., Gwartney, J. D., & Montesinos, H. M. (2020). The transportation-communication revolution: 50 years of dramatic change in economic development. Cato Journal, 40(1), 153-198.en_US
dc.identifier.urihttps://search.ebscohost.com/login.aspx?direct=true&AuthType=shib&db=edshol&AN=edshol.hein.journals.catoj40.11&site=eds-live&scope=site&custid=s5615486
dc.identifier.urihttp://hdl.handle.net/11416/666
dc.language.isoen_USen_US
dc.publisherCato Instituteen_US
dc.subjectEconomic developmenten_US
dc.subjectInternational tradeen_US
dc.subjectTransportationen_US
dc.titleThe transportation-communication revolution: 50 years of dramatic change in economic developmenten_US
dc.title.alternative50 years of dramatic change in economic developmenten_US
dc.typeArticleen_US

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