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CentrePiece article

In brief...Cotton and Cars: the Huge Gains from Process Innovation


New inventions are good for economic growth, but equally important are improvements in the way we make things - what's known as process innovation. Tim Leunig and Joachim Voth measure the impact of two such innovations - mechanical cotton spinning and the motorcar assembly line - on the world's material wellbeing.


Tim Leunig and Joachim Voth

26 October 2011     Paper Number CEPCP347

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This CentrePiece article is published under the centre's Trade programme.