Knowledge and the Wealth of Nations: A Story of Economic Discovery
"What The Double Helix did for biology, David Warsh's Knowledge and the Wealth of Nations does for economics."—Boston GlobeA 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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Knowledge and the wealth of nations: a story of economic discoveryUser Review - Not Available - Book Verdict
Veteran business reporter Warsh takes on the world of economic scholarship to tell the story of how the growth of human knowledge finally became incorporated into mainstream economic theory. Warsh ... Read full review
This book illustrates how thought about economic growth and technological change has evolved... and how much further it has to go. It's extremely well written and tells a story about the path dependency of research and what it takes to change the course of mainstream thought. Surprisingly, it's a page turner. It's also an eye opener to the mental processes that go into economic research.
The Keyboard the City and the World
At the Ski Lift
Endogenous Technological Change
Conjectures and Refutations
A Short History of the Cost of Lighting
Mathematics Is a Language
When Economics Went HighTech
The Residual and Its Critics
The InfiniteDimensional Spreadsheet
Economists Turn to Rocket Science and Model Becomes a Verb
In Hyde Park