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R&D-based growth theory suggests that a larger population size raises either the long-run rate of economic growth ("strong scale effect") or the level of per capita income ("weak scale effect"), with far-reaching policy implications. However, for modern times there is little empirical support...
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entrepreneurs consider at each instant of time both innovation and rent-seeking as alternative sources of profit. The consequences …-seekers and the only difference is to be found in their attitude towards innovation as a source of profit. In this sense … decisions measured in units of innovation are then aggregated to calculate the innovation quantity for a given population based …
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