Elhanan Helpman was one of the foremost economists in the field of increasing returns. His book, The Mystery of Economic Growth, defined what was known and what needed to be learned to increase understanding about economic growth, more specifically why growth was so uneven throughout the world. The book was split into six chapters about how accumulation, productivity, innovation, interdependence, inequality, and politics affect growth. Helpman did not include population in his studies because it was not his field. Helpman's book is considered a success due to its clarity and cleverness. It reveals to outsiders what it means to think like an economists, and it details to insiders the general consensus on research.
A for Kim.
ReplyDeleteI haven't read this book (does that make me a bad professor??). Read it yet, I suppose.
For my part, I kind of think Warsh has missed the point. The theory is fantastic, but it's illuminated new areas that we didn't know were an issue: like the lecture on the last day of class. Technology is really important, but not the technology we think: there's "low" technology that is hard to transmit across borders that makes the most difference.