Analysis of the state of the art in knowledge economics

Miss Katharine Jenkins, Mario Beruvides

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

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.

Original languageEnglish
Title of host publicationProceedings of the 2020 IISE Annual Conference
EditorsL. Cromarty, R. Shirwaiker, P. Wang
PublisherInstitute of Industrial and Systems Engineers, IISE
Pages388-392
Number of pages5
ISBN (Electronic)9781713827818
StatePublished - 2020
Event2020 Institute of Industrial and Systems Engineers Annual Conference and Expo, IISE 2020 - Virtual, Online, United States
Duration: Nov 1 2020Nov 3 2020

Publication series

NameProceedings of the 2020 IISE Annual Conference

Conference

Conference2020 Institute of Industrial and Systems Engineers Annual Conference and Expo, IISE 2020
CountryUnited States
CityVirtual, Online
Period11/1/2011/3/20

Keywords

  • Economics of Knowledge
  • Endogenous growth
  • Knowledge-oriented
  • Public policy

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