Technology was long considered a side issue in economics, an unclassifiable element that would impinge upon growth and development, but seen as exogenous to the fundamental processes of supply and demand. Joseph Schumpeter did much to change this but even so, it is only in recent years that its workings have begun to be taken seriously. This book analyzes the Economics of Technology and its implications for both standard economic theory and the real world itself, down to the level of firms, with consequent strong appeal to the disciplines of both Economics and Business and with major implications for policy. The work moves beyond the plethora of specialized studies on the subject and formulates a unified and comprehensive approach, fully aware of the topic#xE2;#xAC;"s huge breadth and scope. Issues such as innovation, knowledge, incentives, information and regulation are naturally much to the fore.