This paper attempts to provide microfoundations for the knowledge production function in an idea-based growth model. Production of new ideas is made a function of newly reconfigured old ideas in the spirit of the way an agricultural research station develops improved plant varieties by cross-pollinating existing plant varieties. The model shows how knowledge can build upon itself in a combinatoric feedback process that may have significant implications for economic growth. The paper's main theme is that the ultimate limits to growth lie not so much in our ability to generate new ideas as in our ability to process an abundance of potentially new ideas into usable form.
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|Date of creation:||1995|
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Web page: http://www.economics.harvard.edu/journals/hier
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- Benjamin F. Jones, 2009.
"The Burden of Knowledge and the "Death of the Renaissance Man": Is Innovation Getting Harder?,"
Review of Economic Studies,
Oxford University Press, vol. 76(1), pages 283-317.
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- Singh, Nirvikar, 2008. "Transaction Costs, Information Technology and Development," MPRA Paper 9095, University Library of Munich, Germany.
- Nirvikar Singh, 2004. "Transaction Costs, Information Technology and Development," Development and Comp Systems 0412005, EconWPA.
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- Bryane Michael, 2004. "Explaining organizational change in international development: the role of complexity in anti-corruption work," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(8), pages 1067-1088.
- Pier Saviotti & Koen Frenken, 2008. "Export variety and the economic performance of countries," Journal of Evolutionary Economics, Springer, vol. 18(2), pages 201-218, April.
- Sea-Jin Chang & Chi-Nien Chung & Ishtiaq P. Mahmood, 2006. "When and How Does Business Group Affiliation Promote Firm Innovation? A Tale of Two Emerging Economies," Organization Science, INFORMS, vol. 17(5), pages 637-656, October. Full references (including those not matched with items on IDEAS)
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