Langlois, Richard N. - 2000
and role of knowledge in the growth process (Romer 1986, 1990; Grossman and Helpman 1990, 1994). Unlike earlier models of …. Knowledge no longer appears as manna from heaven, but is now produced just as are bananas and tires: as the result of the … machine whose output is new technological knowledge. For reasons that Kenneth Arrow (1962) long ago articulated, however, the …