tag:blogger.com,1999:blog-6048425.post400482488896464845..comments2023-11-02T15:32:15.417+00:00Comments on Bluematter.: 1980s Endogenous Growth Theory Discovered in the 1960sUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6048425.post-78633167463575262782007-08-28T20:19:00.000+00:002007-08-28T20:19:00.000+00:00The fact that R&D yield may be substantially drive...The fact that R&D yield may be substantially driven by chance is not a good reason for arguing that economics will not be able to model the process of growth. Economics routinely models processes which have random elements.<BR/>For example, if R&D yield is a random process, the moments of the distribution (e.g.mean, variance) could be modelled as endogenous functions of the capital stock, number of skilled workers, number of universities etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6048425.post-57846977458817458502007-08-28T12:02:00.000+00:002007-08-28T12:02:00.000+00:00Will do!Great guest blogging, by the way!Will do!<BR/><BR/>Great guest blogging, by the way!Gabriel Mhttps://www.blogger.com/profile/18020403326536585795noreply@blogger.com