Must-Read: : Speeding-up and Missed Opportunities: Evidence: “The bar I set for a model is that it should yield answers we believe…
…to questions that matter. For… growth, the… questions… are:1. Speeding-up: Why has the rate of growth at the technological frontier been increasing over time? 2. Missed Opportunities: Why have so many countries that start from far behind the frontier failed to achieve rapid catch-up growth?… In response to a nudge from Joshua Gans… I’ll recapitulate the evidence that convinced me… these are the two big questions… I’ll explain why the conceptual framework that I used in the 1990 paper, one that relies on partially-excludable nonrival goods, is the bare minimum for answering them…