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- W2032907797 abstract "This paper argues that prior to Adam Smith economic progress was largelyconceived as being based on the accumulation of knowledge. The development byTurgotand Smith of aconcept ofcapital thatsubsumedother factors contributingtodevelopment led their followers to focus on capital to the neglect of the independentrole of knowledge. The paper demonstrates that this paradigmatic shift wasidentified and challenged by Bentham, Hodgskin and Rae who argued for theindependent role of innovation but without lasting impact.Key words: Knowledge, Capital, Accumulation, InnovationJEL classifications: B11, B12, O10, O30" @default.
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- W2032907797 date "2009-03-31" @default.
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- W2032907797 title "Accumulation of knowledge and accumulation of capital in early 'theories' of growth and development" @default.
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- W2032907797 doi "https://doi.org/10.1093/cje/bep009" @default.
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