The New Growth Theory: Some Intellectual Growth Accounting

Nicolai Foss ()

No 97-2, IVS/CBS Working Papers from Department of Industrial Economics and Strategy, Copenhagen Business School

Abstract: This paper discusses the reasons for the success of the New Growth theory. Given that the NGT has a somewhat tautological quality, that its essential ideas have been known for a long time, and that it does not make contact with a large literature on institutions and economic change, its strong success is arguably surprising. At any rate, it causes problems for models of scientific change that focus on novel facts as a criterion of progress, such as Lakatos'. The success of the NGT is better explained by, for example, Laudan's focus on increased problem-solving ability as an important cause of scientific change

Keywords: economic growth; The methodology of scientific research programms (search for similar items in EconPapers)
JEL-codes: B4 O4 (search for similar items in EconPapers)
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Journal Article: The new growth theory: some intellectual growth accounting (1998)
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