Learning as an emergent, creative process

Christopher Coyne and Vipin P. Veetil ()
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Vipin P. Veetil: George Mason University

The Review of Austrian Economics, 2016, vol. 29, issue 4, No 5, 415-428

Abstract: Abstract In Creating a Learning Society, Joseph Stiglitz and Bruce Greenwald examine the role of knowledge in economic growth. They view economic growth as an impersonal and automatic phenomenon. The history of economic growth, however, suggests that it is a creative and personal process. We argue that the analytical framework deployed by Stiglitz and Greenwald is unsuited to study the creation of new products, new ways of doing things, and the discovery of new markets. While the questions Stigltiz and Greenwald ask are of fundamental importance, their analysis is neutered by the inability of their conceptual toolbox to grapple with creativity and novelty.

Keywords: Creating a Learning Society; Knowledge; Learning; Neo-Walrasian; Neo-Mengerian; Competition; Entrepreneurship; Economic growth (search for similar items in EconPapers)
JEL-codes: D80 L26 O10 O3 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s11138-015-0333-9

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