Knowledge and the Wealth of Nations: A Story of Economic Discovery
| Author | : | |
| Rating | : | 4.44 (519 Votes) |
| Asin | : | 0393329887 |
| Format Type | : | paperback |
| Number of Pages | : | 464 Pages |
| Publish Date | : | 2013-04-14 |
| Language | : | English |
DESCRIPTION:
More Economic History than Economic Thought Chris Warsh has authored a well written book with a compelling tale of the foundations of theory of economic growth. More than anything else, it is a story of Paul Romer and his groundbreaking ideas. Romer is a remarkably creative thinker on a search for an economic theory (aka model) to explain growth. The author starts us on Romer's odyssey first with a brief history back to Adam Smith. It is clear Romer stood on the shoulders of giants (Smith, Marshall, Arrow, et al) in formulating theories (models) for growth, recognizing the value of knowledge and technology.The kernel of the story becomes a bit muddled at times as Warsh bec. "A Great Story in the "Longitude" Style" according to P. Johnson. I started this book and could not put it down till finished. It was well worth it.Warsh has an engaging and lucid prose style, and a reporter's gift for unearthing the story of the people engaged in the quest to unravel the "mystery of economic growth".He casts a wide historical and character net - from Aristotle to Linus Torvalds, Adam Smith to Peter Drucker, Alfred Marshall to Jane Jacobs to Al GoreEach character gets his or her colorful moment on the stage, and Warsh does credit to them all. The story within the story is the inner workings of an academic community - debate, consensus, personalities, ambition, collaborati. Barbara And Byron Skinner said Knowledge and the Wealth of Nations. "Knowledge and the Wealth of Nations" is a timely restatement of how an economic era developes through it life span. Agriculture started about 8000 years ago in the Baaka Valley and concluded with the Cotton Plantation of the early 19th. Century American South. Like wise the Industrial Revolution begain with the forge and cottage weaving in England and ended in the late "Knowledge and the Wealth of Nations" according to Barbara And Byron Skinner. "Knowledge and the Wealth of Nations" is a timely restatement of how an economic era developes through it life span. Agriculture started about 8000 years ago in the Baaka Valley and concluded with the Cotton Plantation of the early 19th. Century American South. Like wise the Industrial Revolution begain with the forge and cottage weaving in England and ended in the late 20th. Century with the Robatic Assembly lines in China.The current Information Age is still in its infancy it will most likely will be dated from the mid 18th. Century when movable type and cheap paper made the printed available to the masses which sparked a. 0th. Century with the Robatic Assembly lines in China.The current Information Age is still in its infancy it will most likely will be dated from the mid 18th. Century when movable type and cheap paper made the printed available to the masses which sparked a
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. In 1980, the twenty-four-year-old graduate student Paul Romer tackled one of the oldest puzzles in economics. "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. 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.. Eight years later he s
The book brings sophisticated ideas into a complex story without losing the thread, or the reader's interest. In the first half of this book, Warsh gives an entertaining and precise history of economic thought from Smith forward, through the lens of what have come to be two of his key constructs. Warsh's treatment of difficult economic concepts like value is brief but clear and accurate, and he gives equal weight to personalities, institutions and broader social forces. . All rights reserved. In the second half of the book, Warsh advances the claim that in the 1970s and 80s, when Romer divided economics into people, ideas and things, instead of labor, capital and land, he touched off a revolution in the field, one that is still playing out in now-dominant "New Growth Theory" economics. Warsh does not focus narrowly on Romer's work, but describes the social and institutional framework of modern professional economics: how ideas percolate, how pa