We present a model of growth à la Lucas with two 'competing' factors. The first needs to allocate its time between production, accumulation and a non productive activity (rest or leisure). The second can devote its time simply to production and accumulation. The two factors can generate harmful 'competition' and produce exogenous, endogenous growth, or economic implosion. The first factor can be identified as individual human capital and the second as IT related 'intelligent capital' - physical capital which incorporates the human capital of a person rather than her labour surplus.
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Paper provided by Trinity College Dublin, Department of Economics in its series Economics Technical Papers with number
9819.
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Find related papers by JEL classification: O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
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