Creating a Learning Society: A New Approach to Growth, Development, and Social Progress

Joseph E. Stiglitz; Bruce Greenwald

Published by Columbia University Press 2014

Creating a Learning Society

A New Approach to Growth, Development, and Social Progress

Joseph E. Stiglitz and Bruce Greenwald
In collaboration with: Philippe Aghion , Kenneth Arrow , Robert Solow and Michael Woodford

In the series Kenneth J. Arrow Lecture Series

https://doi.org/10.7312/stig15214

Overview
Contents

About this book

To understand how countries grow and develop, it is essential to know how they learn and become more productive and what government can do to promote learning. In Creating a Learning Society, Joseph E. Stiglitz and Bruce C. Greenwald cast light on the significance of this insight for economic theory and policy.

Author / Editor information

Joseph E. Stiglitz is University Professor at Columbia University and a member and former chair of Columbia University's Committee on Global Thought. He was the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's Council of Economic Advisors, and then joined the World Bank as chief economist and senior vice president. His most recent book is The Price of Inequality: How Today's Divided Society Endangers Our Future.

Bruce C. Greenwald is Robert Heilbrunn Professor of Finance and Asset Management at Columbia Business School. He is director of the Heilbrunn Center for Graham and Dodd Investing. His books include Value Investing: From Graham to Buffett and Beyond and Competition Demystified: A Radically Simplified Approach to Business Strategy Portfolio.

Reviews

Walter Frick:
[A] sweeping work of macroeconomic theory.

Robert Kuttner, coeditor, The American Prospect:
Joseph E. Stiglitz and Bruce C. Greenwald have contributed a superb new understanding of the dynamic economy as a learning society, one that goes well beyond the usual treatment of education, training, and R&D. This important work continues the quest of Stiglitz and Greenwald for an appreciation of the role of public policy in overcoming market failures, asymmetries, and inefficiencies, and it provides insights on the limits and distortions of laissez-faire assumptions of optimality. This book should be at the very center of the next wave of policy debate.

Richard R. Nelson, Columbia University:
If one's attention is on the economic long run and the processes involved in economic change, innovation and learning quickly can be seen as occupying the center of the stage. Unfortunately, for the last half century, the bulk of the attention in microeconomic theorizing has been on economic statics, which is blind to these variables. This book is a welcome exception.

Giovanni Dosi, Director, Institute of Economics, Scuola Superiore Sant'Anna:
An impressive tour de force, from the theory of the firm all the way to long-term development, guided by the focus on knowledge and learning. Indeed, when economic theory takes knowledge on board—with its specific features and modes of accumulation—many of the conventional conclusions break down, from the welfare properties of competitive markets to the virtues of 'comparative advantages' in international exchanges. At the same time, in learning economies, public policies and institutions are shown to play a paramount role. This is an ambitious book with far-reaching policy implications.

Partha Dasgupta, University of Cambridge:
Profound and dazzling. In their new book, Joseph E. Stiglitz and Bruce C. Greenwald study the human wish to learn and our ability to learn and so uncover the processes that relate the institutions we devise and the accompanying processes that drive the production, dissemination, and use of knowledge. The authors' analysis provides the foundations of an understanding of the progress and regress of nations. This is social science at its best.

Topics

Frontmatter Publicly Available Download PDF	i
Contents Publicly Available Download PDF	v
Preface Requires Authentication Unlicensed Licensed Download PDF	ix
Acknowledgments Requires Authentication Unlicensed Licensed Download PDF	xiii
Introduction Requires Authentication Unlicensed Licensed Download PDF	1
Part One. Creating a Learning Society
Chapter One. The Learning Revolution Requires Authentication Unlicensed Licensed Download PDF	13
Chapter Two. On the Importance of Learning Requires Authentication Unlicensed Licensed Download PDF	29
Chapter Three. A Learning Economy Requires Authentication Unlicensed Licensed Download PDF	47
Chapter Four. Creating a Learning Firm and a Learning environment Requires Authentication Unlicensed Licensed Download PDF	88
Chapter Five. Market Structure, welfare, and Learning Requires Authentication Unlicensed Licensed Download PDF	101
Chapter Six. The Welfare Economics of Schumpeterian Competition Requires Authentication Unlicensed Licensed Download PDF	131
Part Two. Analytics
Chapter Seven. Learning in a Closed economy—the Basic Model Requires Authentication Unlicensed Licensed Download PDF	265
Chapter Eight. A two-Period, N-Good Model with endogenous Labor Supply Requires Authentication Unlicensed Licensed Download PDF	286
Chapter Nine. Learning with Monopolistic Competition Requires Authentication Unlicensed Licensed Download PDF	310
Chapter Ten. Long-term Growth and innovation Requires Authentication Unlicensed Licensed Download PDF	319
Chapter Eleven. The Infant-Economy Argument for Protection: Trade Policy in a Learning environment Requires Authentication Unlicensed Licensed Download PDF	331
Part Three. Policies for a Learning Society
Chapter Twelve. The role of industrial and trade Policy in Creating a Learning Society Requires Authentication Unlicensed Licensed Download PDF	369
Chapter Thirteen. Financial Policy and Creating a Learning Society Requires Authentication Unlicensed Licensed Download PDF	401
Chapter Fourteen. Macroeconomic and investment Policies for a Learning Society Requires Authentication Unlicensed Licensed Download PDF	414
Chapter Fifteen. Intellectual Property Requires Authentication Unlicensed Licensed Download PDF	429
Chapter Sixteen. Social transformation and the Creation of a Learning Society Requires Authentication Unlicensed Licensed Download PDF	457
Chapter Seventeen. Concluding remarks Requires Authentication Unlicensed Licensed Download PDF	473
Part Four. Commentary and Afterword
Chapter Eighteen. Introductory remarks for the First Annual Arrow Lecture Michael Woodford Requires Authentication Unlicensed Licensed Download PDF	485
Chapter Nineteen. Further Considerations Joseph E. Stiglitz and Bruce C. Greenwald Requires Authentication Unlicensed Licensed Download PDF	488
Chapter Twenty. Commentary: the Case for industrial Policy Philippe Aghion Requires Authentication Unlicensed Licensed Download PDF	492
Chapter Twenty-one. Commentary Robert Solow Requires Authentication Unlicensed Licensed Download PDF	499
Chapter Twenty-two. Commentary Kenneth J. Arrow Requires Authentication Unlicensed Licensed Download PDF	504
Afterword: Rethinking industrial Policy Philippe Aghion Requires Authentication Unlicensed Licensed Download PDF	509
Notes Requires Authentication Unlicensed Licensed Download PDF	523
References Requires Authentication Unlicensed Licensed Download PDF	587
Notes on Contributors Requires Authentication Unlicensed Licensed Download PDF	625
Index Requires Authentication Unlicensed Licensed Download PDF	629

Language: English
Publisher: Columbia University Press
Audience: Professional and scholarly;
Pages
- Main content: 680
Illustrations
- Other: <B>Charts: </B>45,

eBook

Published: June 24, 2014
ISBN: 9780231525541