Essay

The Engine of Continuous Innovation

Some historians argue that major technological breakthroughs could have occurred under various economic systems. However, a central argument is that an economic system based on private property, markets, and firms was uniquely suited to transform technological advancement from a series of isolated discoveries into a continuous, self-perpetuating process. Analyze how the core features of such an economy contribute to this sustained, ongoing technological revolution.

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Updated 2025-08-21

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