While the debate over whether and why convergence between national productivity rates between countries over time has occurred is a lively one, the discussion has largely ignored two issues: the development of a generalized theoretical model of cross-country growth patterns that could explain...

The endogenous innovation research program is one of the most important theoretical agendas in modern growth theory. Progress, however, has been slowed due to an apparent empirical anomaly. In their simplest and most appealing forms the models suggest a scale effect that seems inconsistent with...

Adam Smith's theory of the gains from trade has caused controversy among economic theorists. Throughout much his work Smith argues that markets efficiently allocate resources. Smith's treatment of the gains from trade, however, is considered inconsistent with this system of natural liberty. This...