How Did The New Technology Affect The Economy

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Many things contribute for the possibility of technology to advance the economics in a period, especially since every area has different needs. A few contributing factors were slavery, population growth and risk and benefits. Mokyr even thinks that every invention raises the amount of technological need; once something is created people scramble to create something better, something to advance it even farther. During the early period technological advance was rare possibly due to slave labor, the labor was basically free and the rich owners made a lot of money off them, and they did not care to help make the process easier or faster for them. The educated inventors had to learn to communicate with the labor field to find where advances could be made. Also there was a lower population, a lower need for material. …show more content…

The risk of the inventors was also a reason for the lack of advance, many times they would end up poor if it failed or if it was too expensive to spread. When governments began to get incentives, like patents and money for inventions more inventions began to be created. Many time countries would pay popular inventors to move to their country, so that they could advance farther than other countries and create more economic progress for their country. Technology that was created during the classical time period is not well documented, some inventions can even be attributed to later periods but really be created during this time. Many great inventions were made during this time, and then built upon during later periods. Also the wars and the politics could have attributed to the slowness of technology advance. When the wars are going on and politics are arguing there is a lower amount of technology, due to men going to war to fight and the focus on

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