TY - GEN
T1 - Analysis of the state of the art in knowledge economics
AU - Jenkins, Miss Katharine
AU - Beruvides, Mario
N1 - Publisher Copyright:
© Proceedings of the 2020 IISE Annual. All Rights Reserved.
PY - 2020
Y1 - 2020
N2 - A currently debated economic topic is the impact and economics of knowledge and technology in economics research. This paper analyzes the historical basis and assumptions in the current models for economic growth using technology. Nobel Prize winner Paul Romer makes the observation that, as an input, technology is a nonrival, partially excludable good in his 1986 paper, “Endogenous Technological Change,” By acknowledging this distinctive characteristic of technology, Romer shifts the discussion of economic growth from a Malthusian perspective to one of inclusivity, attributed to the expansive nature of ideas. This paper reviews the current state of the art in the economics of knowledge and technology and investigates the strengths and potential downfalls of the current research trends. In addition, this paper considers the direction in which progress is developing in this area of research and its impact on industrial and systems engineering.
AB - A currently debated economic topic is the impact and economics of knowledge and technology in economics research. This paper analyzes the historical basis and assumptions in the current models for economic growth using technology. Nobel Prize winner Paul Romer makes the observation that, as an input, technology is a nonrival, partially excludable good in his 1986 paper, “Endogenous Technological Change,” By acknowledging this distinctive characteristic of technology, Romer shifts the discussion of economic growth from a Malthusian perspective to one of inclusivity, attributed to the expansive nature of ideas. This paper reviews the current state of the art in the economics of knowledge and technology and investigates the strengths and potential downfalls of the current research trends. In addition, this paper considers the direction in which progress is developing in this area of research and its impact on industrial and systems engineering.
KW - Economics of Knowledge
KW - Endogenous growth
KW - Knowledge-oriented
KW - Public policy
UR - http://www.scopus.com/inward/record.url?scp=85105655679&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85105655679
T3 - Proceedings of the 2020 IISE Annual Conference
SP - 388
EP - 392
BT - Proceedings of the 2020 IISE Annual Conference
A2 - Cromarty, L.
A2 - Shirwaiker, R.
A2 - Wang, P.
PB - Institute of Industrial and Systems Engineers, IISE
T2 - 2020 Institute of Industrial and Systems Engineers Annual Conference and Expo, IISE 2020
Y2 - 1 November 2020 through 3 November 2020
ER -