Overview

Advanced economies have experienced an increase in material well-being since the industrial revolution. Modern innovations such as personal computers, laser surgery, jet planes and satellite communications have made us rich and transformed the way we work and live. Technological change has also brought with it a variety of social problems. It has been blamed at various times for increasing wage and income inequality, unemployment, obsolescence of physical and human capital, environmental deterioration and prolonged recessions. To understand the contradictory effects of technological change on the economy, one must delve into structural details of the innovation process to analyze how laws, institutions, customs and regulations affect people's incentive and ability to create new knowledge and profit from it. To show how this can be done, the authors make use of Schumpeter's concept of creative destruction, the competitive process whereby entrepreneurs constantly seek new ideas that will render their rivals' ideas obsolete. This book aims to provide a comprehensive survey of the theoretical and empirical debates raised by modern growth theory. It develops analyses that sheds light not only on economic growth, but on the many other phenomena that interact with growth, such as inequality, unemployment, capital accumulation, education, competition natural resources, international trade, economic cycles and public policy.

Full Product Details

Author:   Philippe Aghion ,  Peter W. Howitt
Publisher:   MIT Press Ltd
Imprint:   MIT Press
Dimensions:   Width: 18.30cm , Height: 4.00cm , Length: 25.40cm
Weight:   1.362kg
ISBN:  

9780262011662

ISBN 10:   0262011662
Pages:   708
Publication Date:   24 December 1997
Recommended Age:   From 18
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Out of Stock Indefinitely
Availability:   In Print  
Limited stock is available. It will be ordered for you and shipped pending supplier's limited stock.

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Reviews

Aghion and Howitt is a real breakthrough in growth economics. This bookhas profound implications and should be read by anyone who is serious aboutstudying economic growth Nicholas Crafts , Department of Economic History, London School of Economics and Political Science

Aghion and Howitt is a real breakthrough in growth economics. This book has profound implications and should be read by anyone who is serious about studying economic growth --Nicholas Crafts, Department of Economic History, London School of Economics and Political Science

Author Information

Philippe Aghion is Robert C. Waggoner Professor of Economics at Harvard University. Aghion is coauthor (with Peter Howitt) of Endogenous Growth Theory (MIT Press, 1997). Peter Howitt is Lyn Crost Professor of Social Sciences at Brown University. Howitt is coauthor (with Philippe Aghion) of Endogenous Growth Theory (MIT Press, 1997).

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