Technology, Institutions, and Economic Growth

In this book Richard R. Nelson mounts a full-blown attack on the standard neoclassical theory of economic growth, which he sees as hopelessly inadequate to expl... » 

In this book Richard R. Nelson mounts a full-blown attack on the standard neoclassical theory of economic growth, which he sees as hopelessly inadequate to explain the phenomenon. His alterative theory posits that economic growth driven by technological advance involves disequilibrium in a fundamental and continuing way. Nelson argues that an adequate theory must take into account a range of institutions, from universities to public laboratories and from government agencies to business firms and markets. «