Endogenous growth theory

26 Apr, 2014 at 10:00 | Posted in Economics | 3 Comments

shawsurfingIf you have an apple and I have an apple and we exchange these apples then you and I will each have one apple.

But if you have an idea and I have an idea and we exchange these ideas, then each of us will have two ideas.

George Bernard Shaw


  1. Or sometimes more than two?

  2. I love that quotation, and let me suggest that the two ideas that one now has will often not be identical to the two ideas of the other. The pairs of ideas will be closely related, but different. So each started with one idea, and each now has two, but the world now has four ideas.

  3. Intellectual output, ideas, inventions, innovations are non-rival goods. What else is new.

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