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| Author: | Neill, R. |
| Title: | Francis Bacon, John Rae, and the economics of competitiveness. Capital theory and trade policy |
| Journal: | American Journal of Economics and Sociology
1999 : JUL, VOL. 58:3, p. 385-398 |
| Index terms: | Sociology Economic theory Competition Technological change Economic growth Trade policy |
| Freeterms: | Capital investments Economists Innovation |
| Language: | eng |
| Abstract: | John Rae and the contemporary proponents of the economics of competitiveness assert that traditional treatments of economic growth, development, and trade have not taken into account the ability of technological progress to overcome diminishing returns to investment. Unlike the contemporary advocates of competitiveness, Rae did not fall into the trap of insisting that the costs of technical knowledge determine its productiveness. |
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