We develop a consistent and comprehensive theoretical framework for assessing whether economic growth is compatible with sustaining well-being over time. The framework focuses on whether a comprehensive measure of wealth – one that accounts for natural capital and human capital as well as...

While the importance of innovation to economic development is widely understood, the conditions conducive to it remain the focus of much attention. This volume offers new theoretical and empirical contributions to fundamental questions relating to the economics of innovation and technological...

In this paper, Kenneth Arrow provides a general framework for analysis by economists of the forces lying behind the deescalation and escalation of military expenditures. On the basis of his long experience and leadership in the development of economic theory, he addresses the question: what are...