Description
Book SynopsisThis compendium of essays brings together some of William Baumol's most distinguished and acclaimed papers with some that are more rare, including a discussion of the growth and innovation mechanism that accounts for the unprecedented growth performance of the market economies. Amongst many other papers of note are a discussion of appropriate regulatory principles for privatized and deregulated firms, and a survey of the accomplishments of economists in the past century and the past millennium. This collection includes the following essays:
- Productivity Growth, Convergence and Welfare: What the Long-Run Data Show
- On the Possibility of Continuing Expansion of Finite Resources
- Social Wants and Dismal Science: The Curious Case of the Climbing Costs of Health and Teaching
- Towards Microeconomics of Innovation: Growth Engine Hallmark of Market Economics
- Use of Antitrust to Subvert Competition
- Predation and the Logic of the Average Variable Cost Test.
The papers engage with an eclectic range of issues and represent a vignette of the author's varied contributions to the economic literature.
Trade Review'Reading this collection, one is reminded not only of the breadth of Baumol's contributions to economics, but also of how fine a writer he can be. The explorations of entrepreneurship and growth are particularly broad and interesting. -- - Michael Waterson, University of Warwick, UK
Table of ContentsContents: Preface Part I: On Productivity, Growth, the Cost Disease and Scale Economies Part II: Industrial Organization, Regulation and Privatization Part III: Generalities on the Economic Literature Index
