| Description |
1 online resource (xiv, 660 pages) : illustrations. |
| Series |
Kenneth J. Arrow lecture series |
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Kenneth J. Arrow lecture series (New York, N.Y.)
|
| Bibliography |
Includes bibliographical references (pages 589-623) and index. |
| Contents |
Part One. Creating a learning society: a new approach to growth, development, and social progress: basic concepts. The learning revolution -- On the importance of learning -- A learning economy -- Creating a learning firm and a learning environment -- Market structure, welfare, and learning -- The welfare economics of Schumpeterian Competition -- Part Two. Analytics. Learning in a closed economy: the basic model -- A two-period, N-good model with endogenous labor supply -- Learning with monopolistic competition -- Long-term growth and innovation -- The infant-economy argument for protection: trade policy in a learning environment -- Part Three. Policies for a learning society. The role of industrial and trade policy in creating a learning society -- Financial policy and creating a learning society -- Macroeconomic and investment policies for a learning society -- Intellectual property -- Social transformation and the creation of a learning society -- Concluding remarks -- Part Four. Commentary and afterword. Introductory remarks for the First Annual Arrow Lecture / Michael Woodford -- Further considerations / Joseph E. Stiglitz and Bruce C. Greenwald -- Commentary: the case for industrial policy / Philippe Aghion -- Commentary / Robert Solow -- Commentary / Kenneth Arrow -- Afterword: rethinking industrial policy / Philippe Aghion. |
| Summary |
"It has long been recognized that most standard of living increases are associated with advances in technology, not the accumulation of capital. Yet it has also become clear that what truly separates developed from less developed countries is not just a gap in resources or output but a gap in knowledge. In fact, the pace at which developing countries grow is largely determined by the pace at which they close that gap. Therefore, how countries learn and become more productive is key to understanding how they grow and develop, especially over the long term. In Creating a Learning Society, Joseph E. Stiglitz and Bruce C. Greenwald spell out the implications of this insight for both economic theory and policy. Taking as a starting point Kenneth J. Arrow's 1962 paper 'Learning by Doing, ' they explain why the production of knowledge differs from that of other goods and why market economies alone are typically not efficient in the production and transmission of knowledge. Closing knowledge gaps, or helping laggards learn, is central to growth and development. Combining technical economic analysis with accessible prose, Stiglitz and Greenwald provide new models of 'endogenous growth, ' upending the received thinking about global policy and trade regimes. They show how well-designed government trade and industrial policies can help create a learning society; explain how poorly designed intellectual property regimes can retard learning; demonstrate how virtually every government policy has effects, both positive and negative, on learning; and they argue that policymakers need to be cognizant of these effects. They provocatively show why many standard policy prescriptions, especially associated with 'neoliberal' doctrines focusing on static resource allocations, impede learning and explain why free trade may lead to stagnation, while broad based industrial protection and exchange rate interventions may bring benefits, not just to the industrial sector, but to the entire economy. The volume concludes with brief commentaries from Philippe Aghion and Michael Woodford, as well as from Nobel Laureates Kenneth Arrow and Robert Solow"--Provided by publisher. |
| Note |
Print version record. |
| Subject |
Social learning.
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Information society.
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Progress.
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Adult learning.
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Critical pedagogy.
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Organizational learning.
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SOCIAL SCIENCE -- General.
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BUSINESS & ECONOMICS -- Education.
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Information society. (OCoLC)fst00972767
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Progress. (OCoLC)fst01078723
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Social learning. (OCoLC)fst01122621
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| Genre/Form |
Electronic books.
|
| Added Author |
Greenwald, Bruce C., 1946- author.
|
| Other Form: |
Print version: Stiglitz, Joseph E. Creating a learning society. New York : Columbia University Press, [2014] 9780231152143 (DLC) 2013047698 (OCoLC)863195321 |
| ISBN |
9780231525541 (electronic book) |
|
0231525540 (electronic book) |
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