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Why Economies Grow
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Why Economies Grow Hardcover - 2002

by Jeff Madrick

America takes for granted that new technologies drive economic growth. Madrick argues that technological innovation has never been the cause of economic growth: it is a necessary condition but hardly a sufficient one. Madrick's surprising thesis is that the process of growth is more complex than most pundits, business journalists, and even economists believe--but it can be understood.


From the publisher

The forces that shape economic growth: The size of markets. Large markets make economies of scale possible and thus encourage saving, investing, and the development of new products. The availability of information and the literacy of the population. The spread of information gives people access to scientific and technical ideas, products, and productive farming, manufacturing, and marketing techniques. Natural resources. These seem like primary requirements but are not: they depend on markets for their commercial value. Surplus capital -- savings -- that can be used as investment. Basic economic rights such as guarantees of property and contracts. Entrepreneurialism, creativity, and the human drive for self-improvement. Technology and invention. While commonly seen as primary (or even the only) requirements for growth, these are strongly dependent on other factors.

Details

  • Title Why Economies Grow
  • Author Jeff Madrick
  • Binding Hardcover
  • Edition Edition Unstated
  • Pages 256
  • Volumes 1
  • Language ENG
  • Publisher Basic Books, New York, NY
  • Date 2002-10-16
  • Features Index
  • ISBN 9780465043118 / 0465043119
  • Weight 1.14 lbs (0.52 kg)
  • Dimensions 9.59 x 6.44 x 0.93 in (24.36 x 16.36 x 2.36 cm)
  • Library of Congress subjects Economic development, Commerce
  • Library of Congress Catalog Number 2002008042
  • Dewey Decimal Code 338.9

Media reviews

Citations

  • Booklist, 01/01/2003, Page 818
  • Harvard Business Review, 12/01/2002, Page 26
  • Library Journal, 10/01/2002, Page 112
  • New York Review of Books, 07/03/2003, Page 49
  • New York Times, 01/26/2003, Page 27
  • Publishers Weekly, 09/16/2002, Page 59

About the author

Formerly the financial editor of BusinessWeek, Jeffrey Madrick is a monthly columnist for the New York Times "Economic Scene" and a frequent essayist for the New York Review of Books. A contributor of opinion pieces to the New York Times, the Washington Post and the Los Angeles Times, he has also appeared as a guest on CNN, CNBC, NPR, and PBS's Charlie Rose Show.
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