Knowledge and the Wealth of Nations: A Story of Economic Discovery (Google eBook)

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W. W. Norton & Company, May 17, 2007 - Business & Economics - 464 pages
6 Reviews

"What The Double Helix did for biology, David Warsh's Knowledge and the Wealth of Nations does for economics."—Boston Globe

A stimulating and inviting tour of modern economics centered on the story of one of its most important breakthroughs. In 1980, the twenty-four-year-old graduate student Paul Romer tackled one of the oldest puzzles in economics. Eight years later he solved it. This book tells the story of what has come to be called the new growth theory: the paradox identified by Adam Smith more than two hundred years earlier, its disappearance and occasional resurfacing in the nineteenth century, the development of new technical tools in the twentieth century, and finally the student who could see further than his teachers.

Fascinating in its own right, new growth theory helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy. Like James Gleick's Chaos or Brian Greene's The Elegant Universe, this revealing book takes us to the frontlines of scientific research; not since Robert Heilbroner's classic work The Worldly Philosophers have we had as attractive a glimpse of the essential science of economics.
  

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Review: Knowledge and the Wealth of Nations: A Story of Economic Discovery

User Review  - Ariadna73 - Goodreads

Knowledge and the Wealth Of Nations is a difficult book to read because it is highly philosophical in trying to explain how knowledge is the base of the assets that nations have. It is difficult ... Read full review

Review: Knowledge and the Wealth of Nations: A Story of Economic Discovery

User Review  - David - Goodreads

This is a pretty good read in two halves. The first is kind of a breezy history of economic thought from Smith going forward, including some dichotomies about specialization and increasing returns ... Read full review

Contents

The Discipline
3
It Tells You Where to Carve the Joints
9
What Is a Model? How Does It Work?
28
The Invisible Hand and the Pin Factory
37
How the Dismal Science Got Its Name
48
The Underground River
61
Spillovers and Other Accommodations
72
The Keynesian Revolution and the Modern Movement
88
The UTurn
214
The Keyboard the City and the World
228
Recombinations
249
Crazy Explanations
261
At the Ski Lift
276
Endogenous Technological Change
289
Conjectures and Refutations
305
A Short History of the Cost of Lighting
327

Mathematics Is a Language
108
When Economics Went HighTech
126
The Residual and Its Critics
140
The InfiniteDimensional Spreadsheet
158
Economists Turn to Rocket Science and Model Becomes a Verb
166
New Departures
179
Thats Stupid
195
In Hyde Park
203
The Ultimate Pin Factory
343
The Invisible Revolution
370
Teaching Economics
382
Conclusion
399
Acknowledgments
409
Index
411
Copyright

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About the author (2007)

Former Boston Globe columnist David Warsh writes the online newsletter Economic Principals. He lives in Somerville, Massachusetts.

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