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This volume presents ten original essays and four commentaries contributed by leading scholars in technology and innovation that discuss how newly industrializing countries (NICs), particularly those in East Asia, have transformed themselves from technologically backward and poor to relatively modern and affluent economies over the past thirty years. They provide interesting theoretical perspectives and the insightful understanding of the process of technological progress at both the macro and micro levels in these countries. (view table of contents)

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Product Description: "We should be grateful to Ostry and Nelson for giving clarity and balance to interrelated subjects too often dominated by passion and muddle." Keith Pavitt, University of Sussex Sylvia Ostry is chair of the Centre for International Studies, University of Toronto...read more

Product Description: This comprehensive study is a collection of original articles that view the current state of knowledge of the convergence hypothesis. The hypothesis asserts that at least since the Second World War, and perhaps for a considerable period before that, the group of industrial countries was growing increasingly homogeneous in terms of levels of productivity, technology and per capita incomes...read more

This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Product Description: Book by Nelson, Richard R.