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Description
A discussion of the inadequacies present in an orthodox economist's view of the interrelationship of economics and technological development.
A discussion of the inadequacies present in an orthodox economist's view of the interrelationship of economics and technological development.
| Module code and title: | T100, The man-made world: a foundation course |
|---|---|
| Item code: | T100; 09; 1973 |
| First transmission date: | 12-05-1973 |
| Published: | 1973 |
| Rights Statement: | |
| Restrictions on use: | |
| Duration: | 00:23:12 |
| + Show more... | |
| Producer: | Colin Robinson |
| Contributors: | Alan Coddington; Mike Hussey |
| Publisher: | BBC Open University |
| Keyword(s): | Commodity market; Consumers; Economics; Interfaces; Manipulation of demand by advertising; Orthodox scheme; Price competition; Producers; Technology; Wage rates |
| Footage description: | Hussey briefly introduces the subject of the programme. Hussey and Coddington discuss the general relationship between technology and economics. Coddington explains the viewpoint of orthodox economists towards technology. They make the point that this viewpoint is based on unsupported assumptions, which are in turn the result of an unjustifiably optimistic faith in technology. Coddington explains how conventional economic views technology as a system of interrelated markets. He uses an illuminated chart to show how the commodity market is seen to operate in this orthodox scheme. He explains how demand is meant to bear upon the commodity market and what factors influence demand. Likewise he explains how factors of production influence the commodity market for technological goods. As an example Hussey and Coddington consider the sort of factors which might lead to the production of either metal or plastic dustbins. They also discuss how either choice would affect the consumer side of the commodity market. Using a different illuminated diagram both contributors discuss various socially important factors which are not included in the orthodox economic scheme. Points discussed include wage rates, price competition and manipulation of demand by advertising. Returning to the economic scheme adhered to by orthodox economists, Hussey and Coddington discuss its limitiations in greater detail. Coddington explains why it is mistaken to attribute to technology a momentum of its own. He argues that, instead, the development of technology is controlled and sometimes limited by the natural inertia of the economic system of which it is a part. Coddington's argument is that technology does not respond to demand, as orthodox economists maintain, but instead its development is constrained by such factors as income distribution, the decisions of producers and the requirements of organised markets. Coddington concludes the programme by drawing some general conclusions about themes discussed. |
| Master spool number: | 6HT/70944 |
| Production number: | 00525_5061 |
| Videofinder number: | 2154 |
| Available to public: | yes |
