A Note on Obsolescence. ESRI Memorandum Series No. 47 1966(?)

Geary, R.C. (1966) A Note on Obsolescence. ESRI Memorandum Series No. 47 1966(?). [Policy Paper]

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Abstract

Armchair economists (those who evolve their hypo­theses as to the behaviour of businessmen from their inner consciousness, instead of going to the market place and finding out) are wont to be impatient at the slowness of change for the better in economic behaviour, in particular at the length of time which elapses in the general adoption of improved technology, the reluctance of in­dustrialists to change old machines and old ways. The present note is also an armchair exercise, but at least it is informed by the philosophy that there are usually good reasons why things are as they are; that we have no right rationally to advocate change "for the better" until we are aware of these reasons.

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