Growth theory offers two plausible explanations of growth. One stresses the supply of productive ideas and holds that the industrial revolution had to wait until we had thought up enough inventions to lift us into the era of modern growth. It says, roughly, that the growth of living standards...

In this survey, I discuss four sources of growth of knowledge: research, schooling, learning by doing, and training. In trying to disentangle what is important, I emphasize the following facts: (1) even the most advanced countries spend far more on adoption of existing technologies than on...

Growth theory offers two plausible explanations of growth. One stresses the supply of productive ideas and holds that the industrial revolution had to wait until we had thought up enough inventions to lift us into the era of modern growth. It says, roughly, that the growth of living standards...

In this survey, I discuss four sources of growth of knowledge: research, schooling, learning by doing, and training. In trying to disentangle what is important, I emphasize the following facts: (1) even the most advanced countries spend far more on adoption of existing technologies than on...

A satisfactory account of the postwar growth experience of the United States should be able to come to terms with the following three facts: 1. Since the early 1970's there has been a slump in the advance of productivity. 2. The price of new equipment has fallen steadily over the postwar period....