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The sources of economic growth / Richard R. Nelson.
- Format:
- Book
- Author/Creator:
- Nelson, Richard R.
- Language:
- English
- Subjects (All):
- Economic development.
- Technological innovations--Economic aspects.
- Technological innovations.
- Social institutions.
- Physical Description:
- vi, 328 pages : illustrations ; 24 cm
- Place of Publication:
- Cambridge, Mass. : Harvard University Press, 1996.
- Summary:
- Technological advance is the primary force behind economic growth, argues Richard Nelson in this new collection. Investments in physical and human capital contribute to growth largely as handmaidens to technological advance. And 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.
- Notes:
- Includes bibliographical references (pages 308-328).
- ISBN:
- 0674821459
- OCLC:
- 34598044
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