Nobel laureate Solow shows how Kenneth J. Arrow's classic paper "The Economic Implications of Learning by Doing" fits into the modern theory of economic growth, and uses it as a springboard for a crit
Traditional economics focuses on hypothetical markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of
Nobel laureate Solow shows how Kenneth J. Arrow's classic paper "The Economic Implications of Learning by Doing" fits into the modern theory of economic growth, and uses it as a springboard for a crit
