Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter...

Why do economies exhibit sustained growth in per capita income? This paper argues that endogenous fertility and increasing returns to scale are the fundamental ingredients in understanding endogenous growth. Endogenous fertility leads the scale of the economy to grow over time. Increasing...

Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter...

Why do economies exhibit sustained growth in per capita income? This paper argues that endogenous fertility and increasing returns to scale are the fundamental ingredients in understanding endogenous growth. Endogenous fertility leads the scale of the economy to grow over time. Increasing...