Future-orientation or innovativeness is a leading credo in the EU’s economic policy agenda of the 21st century. It started in the year 2000 with the Lisbon Agenda, the first 10 years plan in which Europe should have become the most competitive and dynamic knowledge-based economic region in the...

Sovereign nations grow faster than non-sovereign ones. When Pakistan ceded economic management to the IMF in the late 1980s, the turn to neo-liberalism led to 14 years of decline in long-run rate of investment and growth from which it hasn't recovered. This cost the economy an estimated $75.6...

In this essay, we begin by offering a definition and two examples of market creating innovation that provide a foundation for the historically informed theory that follows. With this definition and the examples in mind, we next assess the two dominant theories of development— essentially, the...

Our interest in writing this article is to create a bridge between the scholarly and academic research on technological innovation and a private sector, for-profit business model that implements the ideas on innovation and entrepreneurship, primarily in metro regional economies.In his popular...

Our interest in writing this article is to create a bridge between the scholarly and academic research on technological innovation and a private sector, for-profit business model that implements the ideas on innovation and entrepreneurship, primarily in metro regional economies.Economic growth...

This research argues that variations in the interplay between cultural assimilation and cultural diffusion have played a significant role in giving rise to differential patterns of economic development across the globe. Societies that were geographically less vulnerable to cultural diffusion,...

This research argues that variations in the interplay between cultural assimilation and cultural diffusion have played a significant role in giving rise to differential patterns of economic development across the globe. Societies that were geographically less vulnerable to cultural diffusion,...

We use the Aguion and Howitt (2009) theoretical model of endogenous economic growth to explain the declining economic growth in developed economies in the period 1981-2009. Aguion and Howitt theoretical framework combines Solownian and Schumpeterian elements in a single scenario, so that...

We study the features of the incentives for investing in capital goods with higer durability. We argue that economies which invest in capital goods with less durability may have a lower economic growth. We build a theoretical model with endogenous depreciation rate. The model we present is one...

We analyze the role of the Scientific Revolution in the takeoff to sustained economic growth. Basic scientific knowledge is a necessary input in the production of applied knowledge, which, in turn, fuels productivity growth and leads to rising incomes. Subsequently, rising incomes instigate a...