TECHNOLOGICAL INERTIA IN ECONOMIC-HISTORY

Technological progress depends for its success on a conducive social environment. The resistance to innovation is identified as a central element governing the success of new inventions. Such resistance usually takes the form of non-market processes. It consists of vested interests, whose assets are jeopardized by new techniques, as well as by intellectuals who are opposed to new technology on principle. The role of resistance in the British and French economies during the Industrial Revolution is assessed.