[Ebook] ↠ Learning from ‘Learning by Doing’: Lessons for Economic Growth Author Robert Solow – Thomashillier.co.uk

Learning from ‘Learning by Doing’: Lessons for Economic Growth This Book By A Nobel Laureate In Economics Begins With A Brief Exposition Of Kenneth J Arrow S Classic Paper The Economic Implications Of Learning By Doing It Shows How Arrow S Idea Fits Into The Modern Theory Of Economic Growth, And Uses It As A Springboard For A Critical Consideration Of Spectacular Recent Developments That Have Made Growth Theory A Dynamic Topic TodayThe Author Then Develops A New Theory That Combines Learning By Doing Identifying It With The Concept Of Continuous Improvement With A Separate Process Of Discrete Innovations Learning By Doing Leads To A Fairly Smooth Reduction In Labor Required Per Unit Of Output, Tied To The Rate Of Gross Investment In New Capital Equipment Innovations Arrive At Random When One Of Them Happens, The Labor Requirement Takes A Jump DownwardThis New Model, Simple As It Is, Does Not Lend Itself To Self Contained Solution The Author Accordingly Presents The Results Of A Series Of Computer Simulations That Exhibit The Variety Of Paths The New Model Economy Can Follow, Showing, Among Other Things, That Early Good Luck Can Have A Persistent Effect The Book Concludes With Some General Reflections On Policies For Economic Growth, Drawn Not From Any One Modeling Exercise But From General Experience With A Variety Of Growth ModelsOf The Four Chapters Of This Book, The First Two Were Presented As The Kenneth J Arrow Lectures At Stanford University In The Computer Simulations Were Specially Done For Inclusion In This Book The Final Chapter On Policies For Economic Growth Was First Presented As The Ernest Sturc Lecture At The Johns Hopkins School Of Advanced International Studies In Washington In


10 thoughts on “Learning from ‘Learning by Doing’: Lessons for Economic Growth

  1. says:

    Brilliant, insightful book Learning by doing is a category of gained skills and experience from performing tasks and getting incrementally better at doing those tasks each time we do them.Solow reviews the original and seminal Kenneth J Arrow s paper The Economic Implications of Learning by Doing , and updates it with his own theories, which combine learning by doing with other discrete innovations.


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