Technology, technical and organizational innovations, economic and societal growth

Technology is not only technical or embodied innovations (TIs: e.g. a new machine) but also organizational or disembodied innovations (OIs: e.g. the just-in-time—JIT-system). The latter are properly defined, and compared with the former in order to suggest that the impact of OIs on economic growth may be as important as that of TIs, or it can be quite independent from that of TIs. The grouping of all major OIs into three axes facilitates the understanding of their impact on economic and societal growth. In particular, the main axis of the firm’s internal organization of labor and capital, the JIT cum Fordism system, is emphasized.