In some sub-sects of economics, “knowledge spillover” refers to someone making use of someone else’s ideas or know-how to make their own discovery or invention. The Industrial Revolution arguably happened as rapidly (and regionally, at first) as it did because Britain (and a few other hubs) had immense capacity for knowledge spillover in the mid-18th and mid-19th centuries, which meant one person’s development of a clever new way to utilize steam could be picked up by someone else who wanted to power a spinning contraption, and that would all be combined by a third person (or multiple third-people) into mechanisms capable of upending the global textile industry.
Knowledge Spillover
Knowledge Spillover
Knowledge Spillover
In some sub-sects of economics, “knowledge spillover” refers to someone making use of someone else’s ideas or know-how to make their own discovery or invention. The Industrial Revolution arguably happened as rapidly (and regionally, at first) as it did because Britain (and a few other hubs) had immense capacity for knowledge spillover in the mid-18th and mid-19th centuries, which meant one person’s development of a clever new way to utilize steam could be picked up by someone else who wanted to power a spinning contraption, and that would all be combined by a third person (or multiple third-people) into mechanisms capable of upending the global textile industry.