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Conventional R&D-based growth theory suggests that productivity growth is positively correlated with population size or population growth, an implication which is hard to see in the data. Here we integrate microfounded fertility and schooling into an otherwise standard R&D-based growth model. We...
Persistent link: https://www.econbiz.de/10010289001
I focus on the independent role of social innovation in economic progress. Modern theory of economic growth and development emphasizes endowments, power, incentives, and physical technology, paying scant attention to knowledge of social systems as a scarce resource. I reverse these procedures by...
Persistent link: https://www.econbiz.de/10014306472
Conventional R&D-based growth theory suggests that productivity growth is positively correlated with population size or population growth, an implication which is hard to see in the data. Here we integrate micro-founded fertility and schooling into an otherwise standard R&D-based growth model....
Persistent link: https://www.econbiz.de/10010352611
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Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel Mokyr persuasively argues that sustained technological progress stemmed from a change in cultural beliefs. The change occurred gradually during the seventeenth and eighteenth...
Persistent link: https://www.econbiz.de/10012035061