Francis Bacon, John Rae, and the Economics of Competitiveness |
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| Authors: | Robin Neill |
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| Affiliation: | [Robin Neill, Ph.D., is adjunct professor of economics at Carleton University and University of Prince Edward Island CIA 4P3, Canada] Professor Neill's research interests are North American economic history and economic thought. |
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| Abstract: | 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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