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Economic development from the perspective of evolutionary economic theory

Abstract:

Sanjaya Lall saw economic development as an evolutionary process, with technological learning at its heart. This essay lays out the key differences between an evolutionary theory of economic activity and change, and the neoclassical theory as articulated in economic text books. It argues that only an evolutionary theory fits what is known about how technological learning progresses. It also argues for recognition, right at the basis of economic theorizing, that modern economic systems contain...

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Publication status:
Published
Peer review status:
Not peer reviewed
Version:
Author's Original

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Institution:
Columbia University
Department:
School of International and Public Affairs
Series:
SLPTMD (Sanjaya Lall Programme of Technology and Management Development) Working Paper Series
URN:
uuid:4ba56dbe-5089-42d7-bded-feb8fd268f47
Local pid:
ora:2551

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