THE SOURCES OF ECONOMIC GROWTH by Richard R. Nelson ( 9780674001725 )

Item Details

Title:

THE SOURCES OF ECONOMIC GROWTH

By:

Richard R. Nelson

Format:

Paperback

List price:

£34.95

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£27.96

Discount:

20% off

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£6.99

ISBN 10:

0674001729

ISBN 13:

9780674001725

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Publisher:

HARVARD UNIVERSITY PRESS

Pub. date:

1 March, 2000

Pages:

336

Description:

Technological advance is the key driving force behind economic growth, argues this text. The book also contends that an adequate theory of economic growth must incorporate institutional change explicitly.

Synopsis:

Technological advance is the key driving force behind economic growth, argues Richard Nelson. Investments in physical and human capital contribute to growth largely as handmaidens to technological advance. Technological advance needs to be understood as an evolutionary process, depending much more on "ex post" selection and learning than on "ex ante" calculation. That is why it proceeds much more rapidly under conditions of competition than under monopoly or oligopoly. Nelson also argues that an adequate theory of economic growth must incorporate institutional change explicitly. Drawing on a knowledge of economic and technological history as well as the tools of economic analysis, Nelson exposes the intimate connections among government policies, science-based universities, and the growth of technology. He compares national innovation systems, and explores both the rise of the United States as the world's premier technological power during the first two-thirds of the 20th century and the diminishing of that lead as other countries have largely caught up. The book examines the secrets of economic growth and why the US economy has been anaemic since the early 1970s.

Illustrations:

13 line illustrations, 10 tables

Publication:

Imprint:

Harvard University Press

Returns:

Returnable

Some other items by this author:

AN EVOLUTIONARY THEORY OF ECONOMIC CHANGE (PB)

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ECONOMIC DEVELOPMENT AS A LEARNING PROCESS (HB)

ECONOMIC DEVELOPMENT AS A LEARNING PROCESS (PB)