T0 the practical mind, particularly one trained in economics, it might sound a trifle paradoxical to suggest that the truly important issues in a public policy debate have nothing to do with the relative efficacy of the policy options. Paradoxical or not, this is very often the case. And there...

In neoclassical theory, knowledge generates increasing returns - and therefore growth - because it is a public good that can be costlessly reused once created. In fact, however, much knowledge in the economy is actually tacit and not easily transmitted -and thus not an obvious source of...