Innovation and Increasing Retums to Scale

Kenneth Arrow

Chapter 18 in Increasing Returns and Economic Analysis, 1998, pp 403-408 from Palgrave Macmillan

Abstract: Abstract There has been a long tradition, going back to Adam Smith (1776), that technological progress is somehow intrinsically associated with increasing Retums. In more recent times, this connection has been emphasized by Young (1928), Nicholas Kaldor (1957), and, still more recently, by Arrow (1962), Shell (1966), and Romer (1990). There is, however, more than one interpretation of the relation.

Keywords: Unit Cost; American Economic Review; Fixed Cost; Plan Output; Conceivable Activity (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-26255-7_24

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