By Roger H. Stuewer
First released in 1970. Routledge is an imprint of Taylor & Francis, an informa corporation.
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Extra info for Historical and Philosophical Perspectives of Science
Increasingreturnsisn't an isolatedphenomenon at all: the principle applies to everything in high technology. u"iiliffint-to get ihe first copy out the door. It's the same story in electronics, computers, pharmaceuticals,even aerospace. (Cost for the first 82 bomber: $21 billion. ) High technology could almost be defined as "congealedknowledge," says Arthur. " More than that, every copy offers a chance for learning: getting the yield up on microprocessorchips, and so on. So there's a tremendous reward for increasing production-in short, the systemis governedby increasingreturns.
A few weekslater, in May of 1987, Arthur got a telephonecall from a soft-spokenman who introduced himself as George cowan, from the Santa Fe Institute. Cowan thanked him for agreeingto come to the economics meeting that fall. He and his colleaguestook this meeting very seriously indeed, he explained. And economics in building as wide a network of researchers was very much on its agenda. But what he was really calling for, added Cowan, was that Ken Arrow had suggestedthat the institute invite Arthur to be a visiting fellow that f"ll.
My first permanent iob history' in Stanford's youngestendowed professors to be gof It was a moment to savor-which in retrospect,turned out " long while' for a momenb such many to have thing. He wasn't destined demogHonieue, much his fellow economistsmay have liked his work in ecoincreasing'returns on ideas his raphy, many of them seemedto find nomics outrageous. But it was true that his most virulent that been Americans. And being at Stanfordbrought him face to face with could I whatever' sweat no fact.
Historical and Philosophical Perspectives of Science by Roger H. Stuewer