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Download Creating a Learning Society: A New Approach to Growth, by Joseph E. Stiglitz, Bruce C. Greenwald PDF

By Joseph E. Stiglitz, Bruce C. Greenwald

It has lengthy been well-known that the majority way of life raises are linked to advances in expertise, no longer the buildup of capital. but it has additionally turn into transparent that what really separates built from much less constructed international locations isn't just a spot in assets or output yet a spot in wisdom. actually, the velocity at which constructing international locations develop is basically decided through the speed at which they shut that gap.

Therefore, how international locations study and turn into extra effective is vital to figuring out how they develop and enhance, particularly over the longer term. In making a studying Society, Joseph E. Stiglitz and Bruce C. Greenwald spell out the results of this perception for either monetary thought and coverage. Taking as a kick off point Kenneth J. Arrow's 1962 paper "Learning via Doing," they clarify why the construction of data differs from that of alternative items and why industry economies by myself are usually now not effective within the creation and transmission of data. remaining wisdom gaps, or supporting laggards research, is critical to progress and development.

Combining technical monetary research with obtainable prose, Stiglitz and Greenwald offer new versions of "endogenous growth," upending the obtained pondering worldwide coverage and exchange regimes. They express how well-designed govt alternate and commercial regulations will help create a studying society; clarify how poorly designed highbrow estate regimes can retard studying; reveal how almost each govt coverage has results, either confident and damaging, on studying; and so they argue that policymakers must be cognizant of those results. They provocatively express why many usual coverage prescriptions, particularly linked to "neoliberal" doctrines targeting static source allocations, bog down studying and clarify why unfastened exchange could lead to stagnation, whereas vast established commercial security and alternate fee interventions could convey merits, not only to the economic zone, yet to the full economy.

The quantity concludes with short commentaries from Philippe Aghion and Michael Woodford, in addition to from Nobel Laureates Kenneth Arrow and Robert Solow.

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Extra info for Creating a Learning Society: A New Approach to Growth, Development, and Social Progress (Kenneth J. Arrow Lecture Series)

Sample text

The approach taken here is that to question and discuss the law and our ways of thinking about it is not subversive. Rather, it is constructive and likely, eventually, to bring about improvements in the consistency and coherence of those laws. 1. An Intellectual Property Fairy Tale Once upon a time there was a vain emperor who loved fashion and new clothes. His kingdom was joyful and festive, and the palace regularly organized carnivals in which the emperor would parade to show off his latest outits.

The approach taken here is that to question and discuss the law and our ways of thinking about it is not subversive. Rather, it is constructive and likely, eventually, to bring about improvements in the consistency and coherence of those laws. 1. An Intellectual Property Fairy Tale Once upon a time there was a vain emperor who loved fashion and new clothes. His kingdom was joyful and festive, and the palace regularly organized carnivals in which the emperor would parade to show off his latest outits.

B, for an explanation of this concept) and can be freely used and/or adapted by anyone. This analogy between the ‘Emperor’s New Clothes’ and intellectual property was presented at the First Annual Intellectual Property and Communications Law and Policy 6 CONSTRUCTING INTELLECTUAL PROPERTY The term ‘intellectual property’ means different things to different people,3 but most conceptions include explicit or implicit reference to a legally regulated, artiicially created monopoly over intangible objects of communication, such as ideas, information, knowledge, and symbols.

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