This year’s Nobel lesson for India: Adapt to technological change but manage disruption too
First, “useful knowledge” must combine prescriptive knowledge (instructions for operating a technology) and propositional knowledge (scientific understanding of why it works). Second, skilled mechanics and engineers were needed to translate ideas into economic reality. Finally, societies required openness to change: institutions that let competing interests negotiate and come up with mutually beneficial compromises, unlike the resistance of Luddites, for example, who destroyed textile machinery.
Post Comment