Technology, institutions, and economic growth / Richard R. Nelson.

Format:

Book

Author/Creator:

Nelson, Richard R., author.

Language:

English

Subjects (All):

Economic development.

Technology--Economic aspects.

Technology.

Institutional economics.

Physical Description:

1 online resource (313 pages)

Place of Publication:

Cambridge, Massachusetts ; London, England : Harvard University Press, [2005]

Summary:

This volume mounts a full-blown attack on the standard neo-classical theory of economic growth, which Richard Nelson sees as hopelessly inadequate to explain the phenomenon of economic growth. He presents an alternative theory which highlights that economic growth driven by technological advance involves disequilibrium in a fundamental and continuing way. Nelson also argues that a theory of economic growth driven by technological advance must recognize a range of institutions, such as universities, public laboratories, and government agencies, in addition to business firms and markets. He further argues that growth theories that focus on an aggregate measure of growth, such as GNP per capita, are blind to what is going on beneath the aggregate, where differing rates of advance in different sectors, and the birth and death of industries are an essential part of the growth process. The broad theory of economic growth Nelson presents sees the process as involving the co-evolution of technologies, institutions, and industry structure.

Contents:

Cover

Title Page

Copyright

Contents

Introduction

Part I

Chapter 1. The Agenda for Growth Theory: A Different Point of View

Chapter 2. The Asian Miracle and Modern Growth Theory

Part II

Chapter 3. Recent Evolutionary Theorizing about Economic Change

Chapter 4. On the Nature and Evolution of Human Know-how

Chapter 5. Making Sense of Institutions as a Factor Shaping Economic Performance

Part III

Chapter 6. On the Uneven Evolution of Human Know-how

Chapter 7. Physical and Social Technologies and Their Evolution

Part IV

Chapter 8. The Problem of Market Bias in Modern Capitalist Economies

Chapter 9. The Market Economy and the Scientific Commons

References

Index.

Notes:

Description based on print version record.

Other Format:

Print version: Nelson, Richard R. Technology, Institutions, and Economic Growth

ISBN:

9780674275478

0674275470

OCLC:

1200571486