The notion that technological change is not random but instead is driven by the pursuit of profits is an essential element of

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The notion that technological change is driven by the pursuit of profits is a central tenet of the new growth theory, which emphasizes the role of innovation in promoting economic growth. Neoclassical growth theory posits that economic growth is driven by increases in capital and labor, while classical growth theory focuses on the role of natural resources and population growth. Perpetual growth theory is not a recognized theory in mainstream economics.

The Notion That Technological Change Is Not Random but Instead