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Capital Quote by Edward C. Prescott

“A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.” quote by Edward C. Prescott
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“A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.”

Edward C. Prescott

About This Quote

Source Book: Foundations of Economic Growth, 2004

Technological knowledge spreads fastest through personal contact, especially in integrated economies.

In simple terms: Tech spreads via people, more in integrated nations.

Key Takeaway

Promote economic integration to accelerate tech diffusion.

Themes

economic integration technology transfer human capital

Mood

analytical optimistic

Type

economic policy

When to use this quote

  • policy design
  • international trade
  • education
  • R&D collaboration

Key Concepts

Network effects learning curves

Questions to Reflect On

  • How can nations overcome trade barriers?
  • What policies boost person‑to‑person tech sharing?
A Different Perspective

Political barriers can hinder integration despite benefits.

4.9 out of 5 (4 ratings)

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