Knowledge Institution Power And Economic Growth
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Knowledge Institution Power And Economic Growth
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Author : Shiping Tang
language : en
Publisher:
Release Date : 2016
Knowledge Institution Power And Economic Growth written by Shiping Tang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The economics of growth centered on technological knowledge in endogenous growth models and the new institutional economics of growth centered on institutions have largely chartered their separate courses so far. In this paper, we construct a new growth model that brings the two economics of growth together by first bringing the quality of the stock of knowledge and the quality of economic institutions into an endogenous growth model and then making the model an evolutionary one via competition and selection of agents with different institutions. Our new model, illustrated with historical data and agent-based modeling (ABM) simulations, nicely accounts for two key stylized facts of economic growth: the coming of the Industrial Revolution and the “Great Divergences” thereafter. Our new model also makes it clear that the most critical factor shaping economic performance across time and space is the (mis-)allocation of production factors by political decisions: Who, under what institutions and power relationship, decides to deploy what knowledge and other production factors to make what. As such, the science of economic growth must be political economy with power/politics rather than neoclassical economics without power/politics.
The Knowledge Economy
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Author : Roberto Mangabeira Unger
language : en
Publisher: Verso Books
Release Date : 2019-03-19
The Knowledge Economy written by Roberto Mangabeira Unger and has been published by Verso Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-19 with Political Science categories.
Adam Smith and Karl Marx recognized that the best way to understand the economy is to study the most advanced practice of production. Today that practice is no longer conventional manufacturing: it is the radically innovative vanguard known as the knowledge economy. This book explores the hidden nature of the knowledge economy and its possible futures. In every part of the production system, the knowledge economy remains a fringe excluding the vast majority of workers and businesses. This confinement has become a driver of economic stagnation and inequality throughout the world. Traditional mass production has stopped working as a shortcut to economic growth. But the alternative-a deepened and socially inclusive form of the knowledge economy-continues to lie beyond reach in even the richest countries. Unger sets out the route to a knowledge economy for the many: changes not just in economic institutions but also in education, culture, and politics. Just as Smith and Marx did in their time, he uses an understanding of the most advanced practice of production to rethink both economics and the economy as a whole.
Institutions And Economic Performance
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Author : Elhanan Helpman
language : en
Publisher: Harvard University Press
Release Date : 2009-07-01
Institutions And Economic Performance written by Elhanan Helpman and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-01 with Business & Economics categories.
Institutions and Economic Performance explores the question of why income per capita varies so greatly across countries. Even taking into account disparities in resources, including physical and human capital, large economic discrepancies remain across countries. Why are some societies but not others able to encourage investments in places, people, and productivity? The answer, the book argues, lies to a large extent in institutional differences across societies. Such institutions are wide-ranging and include formal constitutional arrangements, the role of economic and political elites, informal institutions that promote investment and knowledge transfer, and others. Two core themes run through the contributors’ essays. First, what constraints do institutions place on the power of the executive to prevent it from extorting the investments and effort of other people and institutions? Second, when are productive institutions self-enforcing? Institutions and Economic Performance is unique in its melding of economics, political science, history, and sociology to address its central question.
Understanding Long Run Economic Growth
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Author : Dora L. Costa
language : en
Publisher: University of Chicago Press
Release Date : 2011-10
Understanding Long Run Economic Growth written by Dora L. Costa and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10 with Business & Economics categories.
The conditions for sustainable growth and development are among the most debated topics in economics, and the consensus is that institutions matter greatly in explaining why some economies are more successful than others over time. This book explores the relationship between economic conditions, growth, and inequality.
Knowledge And Power
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Author : George Gilder
language : en
Publisher: Simon and Schuster
Release Date : 2013-06-10
Knowledge And Power written by George Gilder and has been published by Simon and Schuster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-10 with Political Science categories.
Ronald Reagan’s most-quoted living author—George Gilder—is back with an all-new paradigm-shifting theory of capitalism that will upturn conventional wisdom, just when our economy desperately needs a new direction. America’s struggling economy needs a better philosophy than the college student's lament: "I can't be out of money, I still have checks in my checkbook!" We’ve tried a government spending spree, and we’ve learned it doesn’t work. Now is the time to rededicate our country to the pursuit of free market capitalism, before we’re buried under a mound of debt and unfunded entitlements. But how do we navigate between government spending that's too big to sustain and financial institutions that are "too big to fail?" In Knowledge and Power, George Gilder proposes a bold new theory on how capitalism produces wealth and how our economy can regain its vitality and its growth. Gilder breaks away from the supply-side model of economics to present a new economic paradigm: the epic conflict between the knowledge of entrepreneurs on one side, and the blunt power of government on the other. The knowledge of entrepreneurs, and their freedom to share and use that knowledge, are the sparks that light up the economy and set its gears in motion. The power of government to regulate, stifle, manipulate, subsidize or suppress knowledge and ideas is the inertia that slows those gears down, or keeps them from turning at all. One of the twentieth century’s defining economic minds has returned with a new philosophy to carry us into the twenty-first. Knowledge and Power is a must-read for fiscal conservatives, business owners, CEOs, investors, and anyone interested in propelling America’s economy to future success.
Technical Change And Economic Growth
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Author : George M. Korres
language : en
Publisher: Routledge
Release Date : 2016-12-05
Technical Change And Economic Growth written by George M. Korres and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-05 with Business & Economics categories.
Technological change is not only a determinant of growth but is also a pivotal factor in international competition and the modernization of an economy. In one of the most in-depth and detailed studies of its kind, George Korres analyzes the macroeconomic and the microeconomic factors influencing the economics of innovation and the economic relations between technology, innovation, knowledge and productivity. In particular, this book examines both the theoretical framework and the applications for empirical results. This second edition contributes updated figures and estimations for technical change from EU member states and features new subjects, including growth models, productivity models, production function models and non-parametric models. In one of the most in-depth and detailed studies of its kind, this book captures all the existing contemporary techniques in the theoretical fields as well as the empirical applications of the models.
The Economics Of Knowledge Innovation And Systemic Technology Policy
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Author : Francesco Crespi
language : en
Publisher: Routledge
Release Date : 2015-05-15
The Economics Of Knowledge Innovation And Systemic Technology Policy written by Francesco Crespi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-15 with Business & Economics categories.
There is wide consensus on the importance of knowledge for economic growth and local development patterns. This book proposes a view of knowledge as a collective, systemic and evolutionary process that enables agents and social systems to overcome the challenges of the limits to growth. It brings together new conceptual and empirical contributions, analysing the relationship between demand and supply factors and the rate and direction of technological change. It also examines the different elements that compose innovation systems. The Economics of Knowledge, Innovation and Systemic Technology Policy provides the background for the development of an integrated framework for the analysis of systemic policy instruments and their mutual interaction the socio-political and economic conditions of the surrounding environment. These aspects have long been neglected in innovation policy, as policymakers, academics and the business community, have mostly emphasized the benefits of supply side strategies. However, a better understanding of innovation policies grafted on a complexity-based approach calls for the appreciation of the mutual interactions between both supply and demand aspects, and it is likely to improve the actual design of policy measures. This book will help readers to understand the foundations and working of demand-driven innovation policies by stressing the importance of compent and smart demand.
The Institutional Foundation Of Economic Development
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Author : Shiping Tang
language : en
Publisher: Princeton University Press
Release Date : 2022-09-06
The Institutional Foundation Of Economic Development written by Shiping Tang and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09-06 with Business & Economics categories.
A systemic account of how institutions shape economic development Institutions matter for economic development. Yet despite this accepted wisdom, new institutional economics (NIE) has yet to provide a comprehensive look at what constitutes the institutional foundation of economic development (IFED). Bringing together findings from a range a fields, from development economics and development studies to political science and sociology, The Institutional Foundation of Economic Development explores the precise mechanisms through which institutions affect growth. Shiping Tang contends that institutions shape economic development through four “Big Things”: possibility, incentive, capability, and opportunity. From this perspective, IFED has six major dimensions: political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. Tang further argues that IFED is only one pillar within the New Development Triangle (NDT): sustained economic development also requires strong state capacity and sound socioeconomic policies. Arguing for an evolutionary approach tied to a country’s stage of development, The Institutional Foundation of Economic Development advances an understanding of institutions and economic development through a holistic, interdisciplinary lens.
The Implications Of The Knowledge Based Economy For Future Science And Technology Policies
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Author : Organisation for Economic Co-operation and Development
language : en
Publisher:
Release Date : 1996
The Implications Of The Knowledge Based Economy For Future Science And Technology Policies written by Organisation for Economic Co-operation and Development and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Science and state categories.
The Economic Impact Of Knowledge
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Author : Tony Siesfeld
language : en
Publisher: Routledge
Release Date : 2009-11-03
The Economic Impact Of Knowledge written by Tony Siesfeld and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-03 with Business & Economics categories.
First Published in 1998. This text explores how economists and public policy makers are re-thinking the way in which governments monitor, measure and influence an economy in an unbounded global environment where output is largely intangible and organisations are becoming are becoming increasingly non-national in scope. Through a collection of seminal articles written by prominent business people, academics, and public policy makers, this three anthology examines the key issues surrounding the economic impact of knowledge-based growth.