@article{Ruttan:6206,
      recid = {6206},
      author = {Ruttan, Vernon W.},
      title = {General Purpose Technology, Revolutionary Technology, and  Technological Maturity},
      address = {2008-04},
      number = {1701-2016-138991},
      series = {Staff Paper},
      pages = {25},
      year = {2008},
      abstract = {An important inference of the theoretical literature on  the development of general purpose technologies is that  public investment in their development is necessary if  economic growth is to be sustained. The theoretical results  are broadly consistent with the empirical generalization  that the public sector, particularly military and defense  related research, technology development and procurement,  has played an important role in the development of most of  the general purpose technologies in which the United States  is presently globally competitive. These sources are,  however, unlikely to play such an important role in the  development of new general purpose technologies in the  immediate future. Nor is the private sector, burdened by  impatient capital, likely to become an important source of  new general purpose technology.},
      url = {http://ageconsearch.umn.edu/record/6206},
      doi = {https://doi.org/10.22004/ag.econ.6206},
}