Promoting Technology Transfer
For nearly 1,500 years growth rates in Europe remained constant, the 18th century elites of Great Britain earned about the same as the elites of Rome in the 3rd century a.d.’ Economic history illustrates that a lack of adequate leverage and transfer of any type of knowledge, be it explicit, tacit and organizational knowledge, leads to stagnation. ‘It was only during the industrial revolution that economic growth drastically increased. The practical application of various technology and inventions in business, transport and machinery that became possible during the industrial revolution meant that economic processes could be optimized and growth rates be accelerated.
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