It is shown that Paul Romer’s suggestion to model algorithmically the use and production of ideas in an endogenous growth model is formally feasible. Such a modelling exercise imparts a natural evolutionary flavour to growth models. However, it is also shown that the policy implications are formally indeterminate in a precise and effective sense.
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Swan, Trevor W, 2002.
"Economic Growth,"
The Economic Record,
The Economic Society of Australia, vol. 78(243), pages 375-80, December.
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