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Hardcover The Sources of Economic Growth: , Book
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ISBN: 0674821459

ISBN13: 9780674821453

The Sources of Economic Growth: ,

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Format: Hardcover

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Book Overview

Technological advance is the key driving force behind economic growth, argues Richard Nelson. Investments in physical and human capital contribute to growth largely as handmaidens to technological advance. Technological advance needs to be understood as an evolutionary process, depending much more on ex post selection and learning than on ex ante calculation. That is why it proceeds much more rapidly under conditions of competition than under monopoly or oligopoly.

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Business Business & Finance Business & Investing Business Development Development & Growth Economic Conditions Economic Theory Economics Popular Economics Theory

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