It has long been recognized that most standard of living increases are associated with advances in technology, not the accumulation of capital. Yet it has also become clear that what truly separates developed from less developed countries is not just a gap in resources or output but a gap in knowledge. In fact, the pace at which developing countries grow is largely determined by the pace at which they close that gap. Therefore, how countries learn and become more productive is key to understanding how they grow and develop, especially over the long term. In Creating a Learning Society, Joseph…mehr
It has long been recognized that most standard of living increases are associated with advances in technology, not the accumulation of capital. Yet it has also become clear that what truly separates developed from less developed countries is not just a gap in resources or output but a gap in knowledge. In fact, the pace at which developing countries grow is largely determined by the pace at which they close that gap. Therefore, how countries learn and become more productive is key to understanding how they grow and develop, especially over the long term. In Creating a Learning Society, Joseph E. Stiglitz and Bruce C. Greenwald spell out the implications of this insight for both economic theory and policy. Taking as a starting point Kenneth J. Arrows 1962 paper Learning by Doing, they explain why the production of knowledge differs from that of other goods and why market economies alone are typically not efficient in the production and transmission of knowledge. Closing knowledge gaps, or helping laggards learn, is central to growth and development.
Joseph E. Stiglitz is University Professor at Columbia University and a member and former chair of Columbia University's Committee on Global Thought. He was the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's Council of Economic Advisors, and then joined the World Bank as chief economist and senior vice president. His most recent book is The Price of Inequality: How Today's Divided Society Endangers Our Future. Bruce C. Greenwald is Robert Heilbrunn Professor of Finance and Asset Management at Columbia Business School. He is director of the Heilbrunn Center for Graham and Dodd Investing. His books include Value Investing: From Graham to Buffett and Beyond and Competition Demystified: A Radically Simplified Approach to Business Strategy Portfolio.
Inhaltsangabe
Preface Acknowledgments for the Series Acknowledgments for the First Arrow Lecture Introduction, by Joseph E. Stiglitz and Bruce C. Greenwald Part 1: Creating a Learning Society: A New Paradigm for Development and Social Progress: : Basic Concepts 1. The Learning Revolution 2. On the Importance of Learning 3. A Learning Economy 4. Creating a Learning Firm and a Learning Environment 5. Market Structure, Welfare, and Learning 6. The Welfare Economics of Schumpeterian Competition Part 2: Analytics 7. Learning in a Closed Economy—the Basic Model 8. A Two-Period, N-Good Model with Endogenous Labor Supply 9. Learning with Monopolistic Competition 10. Long-Term Growth and Innovation 11. The Infant-Economy Argument for Protection: Trade Policy in a Learning Environment Part 3: Policies for a Learning Society 12. The Role of Industrial and Trade Policy in Creating a Learning Society 13. Financial Policy and Creating a Learning Society 14. Macroeconomic and Investment Policies for a Learning Society 15. Intellectual Property 16. Social Transformation and the Creation of a Learning Society 17. Concluding Remarks Part 4: Commentary and Afterword 18. Introductory Remarks for the First Annual Arrow Lecture, by Michael Woodford 19. Further Considerations, by Joseph E. Stiglitz and Bruce C. Greenwald 20. Commentary: The Case for Industrial Policy, by Philippe Aghion 21. Commentary, by Robert Solow 22. Commentary, by Kenneth Arrow Afterword: Rethinking Industrial Policy, by Philippe Aghion Notes References Notes on Contributors Index
Preface Acknowledgments for the Series Acknowledgments for the First Arrow Lecture Introduction, by Joseph E. Stiglitz and Bruce C. Greenwald Part 1: Creating a Learning Society: A New Paradigm for Development and Social Progress: : Basic Concepts 1. The Learning Revolution 2. On the Importance of Learning 3. A Learning Economy 4. Creating a Learning Firm and a Learning Environment 5. Market Structure, Welfare, and Learning 6. The Welfare Economics of Schumpeterian Competition Part 2: Analytics 7. Learning in a Closed Economy—the Basic Model 8. A Two-Period, N-Good Model with Endogenous Labor Supply 9. Learning with Monopolistic Competition 10. Long-Term Growth and Innovation 11. The Infant-Economy Argument for Protection: Trade Policy in a Learning Environment Part 3: Policies for a Learning Society 12. The Role of Industrial and Trade Policy in Creating a Learning Society 13. Financial Policy and Creating a Learning Society 14. Macroeconomic and Investment Policies for a Learning Society 15. Intellectual Property 16. Social Transformation and the Creation of a Learning Society 17. Concluding Remarks Part 4: Commentary and Afterword 18. Introductory Remarks for the First Annual Arrow Lecture, by Michael Woodford 19. Further Considerations, by Joseph E. Stiglitz and Bruce C. Greenwald 20. Commentary: The Case for Industrial Policy, by Philippe Aghion 21. Commentary, by Robert Solow 22. Commentary, by Kenneth Arrow Afterword: Rethinking Industrial Policy, by Philippe Aghion Notes References Notes on Contributors Index
Rezensionen
Joseph Stiglitz is a Nobel Prize-winning economist, and he deserves to be. Over a long career, he has made incisive and highly valued contributions to the explanation of an astonishingly broad range of economic phenomena, including taxes, interest rates, consumer behavior, corporate finance, and much else. Especially among economists who are still of active working age, he ranks as a titan of the field." - Benjamin M. Friedman, The New York Review of Books
"[A] sweeping work of macroeconomic theory." Harvard Business Review
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