“Ideas which boosted the labor productivity multiple”: pretty much every major technology! Mechanization, the factory system, engines, electricity, etc.
Why ideas are treated distinct from capital is a good question. Basically, it is a matter of economic accounting. In a nutshell: We can measure the amount of money invested in capital equipment, and we can measure the increase in labor productivity (output produced per worker-hour). And it turns out that productivity increases much faster than capital investment. The residual is chalked up to technology.
The difference between ideas and physical capital is that the former is nonrival (although, with intellectual property, partially excludable).
(Note that it’s important to differentiate between ideas as such, and ideas as learned/understood by humans. The latter is more like capital, indeed it is referred to as “human capital.” See here and here.)
“Ideas which boosted the labor productivity multiple”: pretty much every major technology! Mechanization, the factory system, engines, electricity, etc.
Why ideas are treated distinct from capital is a good question. Basically, it is a matter of economic accounting. In a nutshell: We can measure the amount of money invested in capital equipment, and we can measure the increase in labor productivity (output produced per worker-hour). And it turns out that productivity increases much faster than capital investment. The residual is chalked up to technology.
The difference between ideas and physical capital is that the former is nonrival (although, with intellectual property, partially excludable).
Much more explanation and history in this draft essay of mine: https://progressforum.org/posts/W6cSxas75tN8L47e6/draft-for-comment-ideas-getting-harder-to-find-does-not
(Note that it’s important to differentiate between ideas as such, and ideas as learned/understood by humans. The latter is more like capital, indeed it is referred to as “human capital.” See here and here.)