Francis Bacon, John Rae, and the economics of ...



Title Francis Bacon, John Rae, and the economics of competitiveness
Author(s) Robin Neill
Journal American Journal of Economics and Sociology
Date 1999
Volume 58
Issue 3
Start page 385
End page 398
Abstract John Rae and the contemporary proponents of the economics of competitiveness assert that traditional treatments of economic growth, development, and trade have not taken into account the ability of technological progress to overcome diminishing returns to investment. Unlike the contemporary advocates of competitiveness, Rae did not fall into the trap of insisting that the costs of technical knowledge determine its productiveness.

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