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Growth and Ideas

In: Handbook of Economic Growth

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  • Jones, Charles I.

Abstract

Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter is to explore these implications.

Suggested Citation

  • Jones, Charles I., 2005. "Growth and Ideas," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 16, pages 1063-1111 Elsevier.
  • Handle: RePEc:eee:grochp:1-16
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    JEL classification:

    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General

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