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Learning as an emergent, creative process

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Listed:
  • Christopher J. Coyne

    (George Mason University)

  • Vipin P. Veetil

    (George Mason University)

Abstract

In Creating a Learning Society, Joseph Stiglitz and Bruce Greenwald examine the role of knowledge in economic growth. They view economic growth as an impersonal and automatic phenomenon. The history of economic growth, however, suggests that it is a creative and personal process. We argue that the analytical framework deployed by Stiglitz and Greenwald is unsuited to study the creation of new products, new ways of doing things, and the discovery of new markets. While the questions Stigltiz and Greenwald ask are of fundamental importance, their analysis is neutered by the inability of their conceptual toolbox to grapple with creativity and novelty.

Suggested Citation

  • Christopher J. Coyne & Vipin P. Veetil, 2016. "Learning as an emergent, creative process," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(4), pages 415-428, December.
    • Handle: RePEc:kap:revaec:v:29:y:2016:i:4:d:10.1007_s11138-015-0333-9
    DOI: 10.1007/s11138-015-0333-9
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    More about this item

    Keywords

    Creating a Learning Society; Knowledge; Learning; Neo-Walrasian; Neo-Mengerian; Competition; Entrepreneurship; Economic growth;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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