Knowledge and the Wealth of Nations by David Warsh
A Story of Economic Discovery

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Synopsis

A stimulating and inviting tour of modern economics centered on the story of one of its most important breakthroughs.

In 1980, the twenty-four-year-old graduate student Paul Romer tackled one of the oldest puzzles in economics. Eight years later he solved it. This book tells the story of what has come to be called the new growth theory: the paradox identified by Adam Smith more than two hundred years earlier, its disappearance and occasional resurfacing in the nineteenth century, the development of new technical tools in the twentieth century, and finally the student who could see further than his teachers.

Fascinating in its own right, new growth theory helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy. Like James Gleick's Chaos or Brian Greene's The Elegant Universe, this revealing book takes us to the frontlines of scientific research; not since Robert Heilbroner's classic work The Worldly Philosophers have we had as attractive a glimpse of the essential science of economics.
 

About David Warsh

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Former Boston Globe columnist David Warsh writes the online newsletter Economic Principals. He lives in Somerville, Massachusetts.
 
Published January 1, 2006 by W. W. Norton. 320 pages
Genres: Business & Economics, Education & Reference, History. Non-fiction

Unrated Critic Reviews for Knowledge and the Wealth of Nations

Publishers Weekly

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In this shrewd piece of intellectual history, former Boston Globe columnist Warsh shows how two contradictory concepts of Adam Smith-the invisible hand and the division of labor (famously, at a pin fa

May 01 2006 | Read Full Review of Knowledge and the Wealth of N...

The New York Times

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David Warsh traces the history of an enduring economic puzzle, and the effort to solve it.

May 07 2006 | Read Full Review of Knowledge and the Wealth of N...

Publishers Weekly

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In this shrewd piece of intellectual history, former Boston Globe columnist Warsh shows how two contradictory concepts of Adam Smith-the invisible hand and the division of labor (famously, at a pin fa

May 01 2006 | Read Full Review of Knowledge and the Wealth of N...

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