Index

Abramovitz, Moses, 148
Acemoglu, Daron, 315
AEA San Francisco meeting (1996), 16–17, 20–27, 375, 382–83, 397
Age of Diminished Expectations, The (Krugman), 387
Aghion, Philippe, 252, 300
agriculture, 48, 49, 51–57, 61, 62, 66, 81, 163, 167, 210–11, 221
Akerlof, George, 155, 171–72, 173, 174, 175, 184, 212, 271, 301, 302, 303, 373
Alchian, Armen, 254
Alesina, Alberto, 315
Alexander, Sidney, 116
algebra, 74–75, 77, 85, 96, 106, 114, 128, 130, 154, 164, 171, 243
Allen, Paul, 344
American Economic Association (AEA), 3–27, 193, 212, 228-35, 259–60, 267, 275, 322, 375, 382–83, 394, 395, 397
American Economic Review, 16, 156, 259–60, 275, 278-79, 283, 328
Analytical Mechanics (Lagrange), 74
Andreessen, Marc, 354, 355
Aplia, 392–97
Apple Computer, 228, 345, 347–48, 364
“Are Government Bonds Net Wealth?” (Barro), 268
Aristotle, 24, 30, 33, 36, 40
Arpanet, 228, 351–53
Arrow, Kenneth, 62, 87, 135, 137, 138, 141, 150–53, 154, 161–65, 168-69, 170, 175, 185, 189, 199, 209, 225, 229, 230, 243, 285, 291–92, 302, 325, 351, 356–57, 365, 374
Arrow-Debreu model, 170, 185, 189, 199, 209, 325, 365
Arthur, Brian, 233, 234, 356–57
Ashcroft, John, 362
Ashton, T. S., 48
Asimov, Isaac, 181
asymmetric information, 172–73, 175, 295, 373
AT&T, 232, 358-59, 361, 362
Auletta, Ken, 362
automobile industry, 172, 180, 182–83, 225, 240, 256, 263, 355

Babbage, Charles, 61–62
Bacon, Francis, vii, 12, 400
Bagehot, Walter, 43
Baily, Martin Neil, 266, 301, 361
“Balance of the Russian Economy, The” (Leontief), 115
Baldwin, Jean, 260
Ballmer, Steve, 345–46, 354, 358, 361, 362
Balzac, Honoré de, 65
bandwagon effects, 232, 234, 314, 345
banking industry, 99, 117–18, 158-59, 171
Barro, Robert, 268-70, 275, 276–88, 289, 298, 386
Bartley, Robert, 194
Bayh-Dole Act (1980), 400
“beanpole,” 129, 162, 170, 218
Beautiful Mind, A (Nasar), 176n
Becker, Gary, 205–6, 253, 289, 290, 361
Beckmann, Martin, 137
Bellman, Richard, 169–70, 199, 208
Bergson, Abram, 116, 122
Bergstrom, Theodore, 394–95
Bernanke, Ben, 271, 383, 386, 388, 396
Berners-Lee, Tim, 354, 355
Bernstein, Peter, 160n
Bhagwati, Jagdish, 18n, 181
Birmingham, England, 307–8, 320
Blake, William, 342
Blanchard, Olivier, 171, 197, 253, 271, 301, 389
Bohr, Niels, 102, 103, 262
Boies, David, 357
Bonfire of the Vanities, The (Wolfe), 258
Boserup, Ester, 263
Bowley, Arthur, 77
Boyle, Robert, 15
Brahe, Tycho, 103, 324–25
Brand, Stewart, 297
Brander, James, 189
Bresnahan, Timothy, 313, 357
Brezis, Elise, 316
Brock, William “Buz,” 204, 205
Brookings Institution, 4, 104, 133, 377
Buchanan, James, 18n, 29, 279–83, 301
Burbank, Harold, 120
Burke, Edmund, 50, 338
Burns, Arthur, 133
Bush, George H. W., 290, 373, 390
Bush, George W., 362, 367, 379, 388
Bush, Vannevar, 120
business cycles, 101, 122–23, 140, 148, 157, 170, 172, 176, 247, 252, 253–54, 274, 301, 371

Caballero, Ricardo, 315
“Cake-eating, Chattering and Jumps: Existence Results for Variational Problems” (Romer), 226
calculus, 56, 69, 70, 75, 91, 117, 128, 130, 142, 143, 147, 154, 164, 170, 218, 295, 322, 325, 400
Caldwell, Donald, 316
Cambridge University, 13, 24, 51, 73, 84, 85, 88, 90, 98, 99, 101, 107, 116, 138, 148-49, 156, 159, 235–48, 250
Campbell, Norman, 15, 297
canals, 48, 61, 121–22, 145, 225
Canning, David, 236, 247, 249
“Can There Be a General Glut of Commodities?” (Malthus), 57n
Cantillon, Robert, 35, 41
capital:
accumulation of, 35, 78, 145, 146–47, 156, 206, 238, 242, 263, 267, 273, 338-39, 371, 377, 406
credit as basis of, 78-79
as economic variable, 143–44, 145, 146–47, 171, 208, 238, 266, 377–78
as factor of production, xviii–xix, xxii, 41, 42, 52–53, 83–84, 245, 342, 399
human, xxii, 23, 25–26, 149, 241, 242, 243, 244–47, 250, 257, 259, 273, 291, 293, 294, 315, 318-19, 324, 339, 352, 399, 406, 407
investment of, 23, 25–26, 44, 50–56, 57, 62, 66, 68, 77–78, 84, 86, 118-19, 146, 156, 160–61, 200, 210, 211, 217, 223–24, 254–56, 262–63, 264, 267, 346, 351–52, 367–68, 407–8
labor compared with, 75, 91, 143–44, 146, 148, 239–42, 377–78
mobility of, 35, 192, 239–42
physical, 23, 25–26, 264, 273, 293
venture, 392
Capital (Marx), 64
Capital Ideas (Bernstein), 160n
capitalism, 53, 54, 62–65, 87, 88-89, 99, 123, 143–44, 179, 238, 261, 300, 338, 363, 405–6, 407
Capitalism, Socialism, and Democracy (Schumpeter), 123–24
Capitalism and Freedom (Friedman), 204
Card, David, 19–20
Carlyle, Alexander, 29
Carter, Jimmy, 191, 328
Case, Steve, 356
Cass, David, 206–7, 225
Cassel, Gustav, 199
Cass-Koopmans model, 206–7, 225
Caves, Richard, 193
Chamberlin, Edward, 85, 109, 110, 111–15, 120–21, 122, 124, 125, 134, 151, 173, 175, 193, 217, 219, 225, 251, 298n, 376
Chandler, Alfred, 149, 338, 405–6
Chicago, University of, xxi, 13, 22, 24, 83–84, 85, 114, 115, 116, 126, 133–39, 140, 155, 156–57, 159, 160–61, 168, 171, 190–93, 196, 197, 198, 201–6, 212, 214, 215, 225, 235, 249, 252–53, 256, 257, 268, 270, 277, 278, 280, 287–88, 289, 290, 295, 297–98, 299, 301–3, 304, 306, 360–61, 376, 394
Chichilnisky, Graciela, 19
Child, Julia, 119
China, 141, 224, 229, 293, 319, 363, 397, 401, 402–3, 404
Christiano, Larry, 270
Civilization and Its Discontents (Freud), 374
Clapham, John, 84
Clark, John Bates, 75
Clinton, Bill, 373, 390
club theory, 278-88, 291
Coase, Ronald, 16n, 164, 167, 287, 299, 372, 376
Cobb, Charles, 143–44
Cold War, 141, 147, 229, 357, 371, 401
Columbia University, 97, 115, 126, 133, 138, 142, 150, 193, 246
communism, 86, 130, 254–56, 303–4, 370
Communist Manifesto, The (Marx and Engels), 63, 64, 65, 68
competition:
asymmetric information in, 172–73, 175, 295, 373
as basis of economic growth, 35–47, 61–62, 71, 75–76, 107, 109, 110–11, 113, 121–22, 134, 156, 180–91, 200, 222
efficiency of, 46, 75–76, 78, 173, 211, 267, 311, 365–66
free trade in, 35–36, 42–45, 54, 62, 88, 212, 249
global, xviii, 140, 157, 180–91, 229, 240–41, 316–18, 348, 371, 377, 397, 399, 402–8
imperfect, 109, 113, 134, 185, 189
market conditions in, 35–47, 75–76, 110–11, 222, 365–69
monopolistic, xx, 46–47, 109, 110–15, 125, 153, 166, 172, 175, 184–85, 187–90, 215–16, 217, 232, 233, 234, 235, 250–51, 257, 258, 259, 274, 293, 294–95, 297–98, 303, 306, 308, 325–26, 328, 343–69, 374, 384, 385
in new growth theory, 209–10, 215–16, 294–95, 297–98, 306, 308, 358-59, 366–67
perfect, 22, 42–45, 47, 71, 76, 107, 109, 110, 114, 121, 144, 174–75, 181, 190, 208, 209–10, 215, 218, 222, 225, 255, 257, 274, 281, 290, 294
price, xx, 47, 110, 111–12, 281, 283, 365–66
self-interest as basis of, 42, 43
technological, 57, 64, 121–22, 210, 211, 343–49, 354–69, 378, 400–401
Competitive Advantage of Nations, The (Porter), 306–7, 371
“Computer and the Dynamo, The” (David), 312–13
computers, 90, 126, 132, 136, 160, 165, 209, 228, 229, 232, 234, 240, 251, 272, 286, 291, 312–15, 343–69, 379, 388-97, 402–4
Condorcet, Marquis de, 50–51, 61, 202, 207
consumer price index (CPI), 335, 337
consumption function, 100, 118-19, 143, 223, 268
“Contribution to the Theory of Economic Growth, A” (Solow), xvi, 145–47
convergence debate, xvii–xviii, 238-40, 243, 250–51, 252, 262, 268, 269, 275, 300, 318-21, 341, 377–79, 380, 406
Convex Analysis (Rockafellar), 219
convexity, xvii, 161, 162, 164, 165, 205, 217–19, 224, 225, 294, 325–26
Copernicus, 324–25
Cornes, Richard, 283, 284
corn models, 55–56, 70, 221
costs:
average, 78, 111, 113, 285, 292
decreases in, xix–xx, 46, 66, 78, 79, 80, 84, 195, 221
fixed, 79, 111, 113, 180, 217, 219, 222, 223–24, 255, 285, 292, 293, 294, 314, 352, 361
increases in, 23, 66n, 73, 84, 111, 112–13, 332–39
labor, 23, 66n, 111, 332–39; see also wages
lighting, 328-37, 341, 342, 381
living, 57–58, 77–78, 265, 310–12, 319–21, 329, 331–32, 335–37, 339, 342, 358, 366, 407–8
marginal, 69–71, 111, 112–13, 295, 314, 361
opportunity, 43, 111
production, 73, 112–13
as selling expenses, 110–11
start-up, 223–24
switching, 314, 372
transaction, 299, 372
transportation, 39–40, 329–30
unit, 221
unpriced, 81–82
variable, 111, 222
see also prices
counter-Keynesians, 104–5, 139
Cournot, Augustine, 62, 70, 77
Cowen, Tyler, 278-79, 284, 286
Cowles, Alfred, 91–92
Cowles Commission, 92–94, 104, 120, 124, 126–37, 138, 150, 160, 161, 204, 279, 329
Crafts, Nicholas, 21–22
“Crazy Explanations for the Productivity Slowdown” (Romer) (Romer ’87), 262–75, 277, 278, 279, 288
“creative destruction,” 121, 122, 224, 299–300, 344
Critique of Politics and Political Economy (Marx), 63
Cronon, William, 317
Crossing (McCloskey), 19
currency exchange rate, 182, 188, 189, 192, 265, 377

Dantzig, George, 129, 136, 160, 162, 218
Darby, Michael, 192–93
Darwin, Charles, 36, 325, 365
David, Paul, 229, 230–35, 240, 241–42, 244, 248, 249, 312–13, 314, 315, 340, 375n
Davidson, Russell, 198-99, 208-9
Davy, Humphry, 94
Death and Life of Great American Cities (Jacobs), 245
Debreu, Gerard, 7, 137, 162, 164–65, 170, 185, 189, 199, 209, 325, 365
debt, 78-79, 89, 99, 100, 268
Decline and Fall of the Roman Empire, The (Gibbon), 36
democracy, 64, 141, 179, 238, 261, 405–6, 407
Deng Xiaoping, 363
Denison, Edward, 26
Descartes, René, 70, 96, 130
developing countries, xvii–xviii, 7, 146, 229, 237–48, 250–51, 252, 254–56, 262, 268, 269, 273–74, 275, 300, 316, 318-21, 341, 369, 377–79, 380, 406, 407
Development, Geography, and Economic Theory (Krugman), 58-60
Dickens, Charles, 61
Director, Aaron, 299
Disraeli, Benjamin, 307
Dixit, Avinash, 184–85, 189, 223, 251, 260, 301, 314
Dixit-Stiglitz model, 223, 251, 301, 314
Doerr, John, 390
Domar, Evsey, vii, 141–42
Domar model, 141–42, 143, 146
“Do Real Income and Real Wage Measures Capture Reality?” (Nordhaus), 333–37
Dorfman, Robert, 131
Dornbusch, Rudiger, 18n, 185, 193, 194, 197
Douglas, Paul, 4, 82–84, 134, 143–44
Drucker, Peter, 297, 371
Dupuit, Jules, 62, 219, 292, 323–24, 326
Durkheim, Emile, 338
Dvorak, August, 232–33
“Dynamic Competitive Equilibria with Externalities, Increasing Returns and Unbounded Growth” (Romer), 210–12
Dynamic Programming (Bellman), 169–70

Earth Is Flat, The (Friedman), 372
Easterlin, Richard, 239
Easterly, William, 316
Eastman Kodak, 214, 215–17, 306
Econometrica, 16, 93, 209, 226
econometrics, 119n, 122, 126, 128-29, 149, 157, 198, 230, 240, 262, 267, 270, 321
Econometric Society, 6, 92–93, 106, 119, 122, 175, 252
“Economic Backwardness in Historical Perspective” (Gerschenkron), 239
Economic Consequences of the Peace, The (Keynes), 98
Economic Growth: Theory and Evidence (Grossman), 300
“Economic History and the Modern Economist” session (1984), 228-35
Economic Journal, 16, 91, 371
Economic Origins of Dictatorship and Democracy (Acemoglu and Robinson), 315
“Economic Possibilities for Our Grandchildren” (Keynes), 101–2
economics:
as academic discipline, xi, 4–6, 10–12, 88, 92, 105, 107, 108, 115–21, 126–39, 153–54, 159, 166, 174, 176, 195–96, 382–97
axiomatic approach to, 89, 96–97, 108-9, 135, 230, 236
behavioral, 386, 388
classical, 65–66, 106–7, 118, 134, 170–71, 174, 205, 235, 279
conservatism in, 19–20, 27
development, see developing countries
educational software for, 388-97
formalism in, xx–xxi, 20–23, 24, 55–56, 57, 76, 124, 128, 135, 152–53, 221, 230–31, 242, 255, 256, 280, 301
Freshwater school of, 105, 166, 174, 197–98, 205, 225, 235, 249, 257, 268, 271–72, 301, 359–60, 386
of growth, see growth, economic; new growth theory
historical, 20–23, 24, 121, 144, 228-35, 240, 383
“hollowing out” of, 58-60, 109, 124, 176, 221
job market for, 10–11, 12
journals devoted to, 10, 14–16, 62, 226; see also specific journals
Keynesian, 27, 84, 85, 88-107, 108, 109, 114, 117–22, 124, 127, 128, 132, 134, 137–42, 147, 148, 159, 161, 165, 166, 167, 170, 174, 182, 191, 192, 197, 204, 205, 235, 247, 249, 268, 372, 374, 384, 386, 387
labor, 20, 205
language of, 16, 217, 383–84
literary, xx, 7, 62, 70, 77, 88, 89, 100, 101–2, 105–6, 123–24, 156, 163, 204, 205, 206, 224, 236, 256, 317, 337, 338, 375
logical analysis in, xx, xxi, 24, 40–41, 51, 58, 76–77, 89, 128, 142–43, 256, 303
macro-, xxi, 21, 89, 90, 101, 105n, 109, 117–20, 127, 128, 132, 137, 139, 142, 148, 156–57, 159, 166, 170–71, 173, 174, 197, 209, 211, 235, 240, 248, 261, 268, 272, 299, 306, 315–16, 374, 376, 378, 383, 385, 388, 396
mathematical basis of, xi, 11, 22–23, 24, 43, 60, 68-69, 70, 73–77, 83, 85, 91, 93, 98, 100, 105–25, 127, 128, 129–32, 142–43, 145, 147, 149, 153, 160–65, 182, 186, 204–7, 218-19, 222–23, 224, 225, 226, 229–30, 238, 242, 248, 280, 370, 408
media coverage of, xi–xii, 4, 19, 27, 141, 159, 191, 194, 204, 212, 302, 370, 371–72
micro-, 62, 90, 109, 127, 173, 219, 235, 314–15, 316, 383, 385, 394–95
Modern movement in, 89–94, 102, 104–7, 108, 115, 118, 121, 124, 126–37, 139, 166, 173–74, 176, 200, 205, 217, 229, 233, 288
neoclassical, 140, 255, 273–74, 319–21, 377, 384
“new,” xxii, 18, 109, 141, 190, 233, 251, 295, 327–28, 371–72
paradigm shifts in, xi, 7–8, 16, 26–27, 36, 58-60, 65–69, 102–4, 159–60, 170–73, 179–80, 201–2, 207–12, 228-48, 249, 250, 256, 297–99, 305–6, 340–41, 370–81, 408
popular opinion on, 57, 61, 62, 141, 157–60, 272
prediction in (forecasts), 55–56, 167
Saltwater school of, 105, 166, 174, 235, 257, 270, 272, 386, 387
as scientific discipline, 3–8, 11–13, 17–18, 22–23, 30–36, 58-60, 89–90, 93–97, 102–4, 115, 116, 159, 207, 326, 372–73, 378-79
statistical method in, 20, 69–71, 89, 119n, 126, 128-29, 136, 164
supply-side, xxi, 191–94, 202, 238-39, 271, 290
teaching of, 195–96, 382–97
technical, xviii, 6, 9–10, 108-9, 126–39, 141, 145, 162, 197, 370, 381, 399, 408
textbooks for, xviii, 10, 28, 36, 54, 102, 153, 197, 272, 280, 293, 372–73, 377, 379, 383–97
theoretical models in, 22–23, 24, 28-36, 43, 55–56, 88, 106, 137, 141–57, 159, 166–76, 183, 185, 186–87, 206–7, 235–36, 240, 327
U.S. dominance of, 5–6, 88, 107, 108
variables analysis in, 23, 55, 91, 106, 113, 116–19, 128-29, 132, 137, 143, 154, 170, 171, 209
Economics (Samuelson), 109, 383, 384, 385, 391, 396
Economics: Principles, Problems, and Policies (McConnell), 384–85, 388
“Economics: The Current Version” (Kreps), 341n
Economics of Imperfect Competition, The (Robinson), 113
“Economic Theory of Clubs, An” (Buchanan), 279–83
economies, economy:
aggregate factors in, 55, 100, 117, 146–49, 160, 210–11, 215, 248, 258, 298, 299, 380, 387
command, 89, 141, 179, 319–20
dynamic nature of, 130–31, 146, 150
global, xviii, 140, 157, 180–91, 229, 240–41, 316–18, 343, 348, 371, 377, 397, 399, 402–8
government management of, 35–36, 84, 105, 139, 141, 148, 153, 166–67, 174, 180–91, 234, 238, 272, 299, 358, 367–68, 406
of scale, 46, 78-79, 81, 114, 232
stationary state of, 53, 67, 102, 140–41, 144, 145–46, 179–80, 207, 211, 300, 319, 320, 321
uncertainty in, 128, 161, 163–65, 169, 189
see also growth, economic
Economist, 62, 265, 278, 387
Economy of Cities, The (Jacobs), 245, 307–8
Economy of Machinery and Manufactures (Babbage), 61–62
Eddy, Mary Baker, 63
Edgeworth, Francis Ysidro, 76
Edgeworth, Maria, 57
Edison, Thomas, 96, 102–3, 121
Einstein, Albert, 89, 97, 101, 131, 295
Ekeland, Ivar, 205, 209
electricity, 25, 94–95, 312–13, 335
Eléments de statistique (Poinsot), 70
Elusive Quest for Growth, The (Easterly), 316
Emerson, Ralph Waldo, 61
“Endogenous Technological Change” (Romer) (Romer ‘90), xi, xv–xviii, xxii, 16, 22, 289–304, 321–22, 365, 369, 380, 382, 400, 407
Engels, Friedrich, 63
Engineers and the Price System, The (Veblen), 110
entrepreneurship, xviii, 76, 110, 121, 123, 220–21, 293, 341, 353, 363, 367, 378, 379
“Essay on Methodology of Positive Economic, An” (Friedman), 134
Essay on the Principle of Population, An (Malthus), 51–54, 58
Ethier, Wilfred, 223, 259
Euclid, 97
Euler, Leonhard, 76, 130, 210
Europe, 6, 140, 176, 267, 312, 314, 361, 406
Experiments and Observations in Electricity (Franklin), 36, 94
externalities, 73–84, 101, 152, 164, 208, 222, 227, 241, 244–45, 287, 314, 315, 365, 370

Fabricant, Solomon, 133
Fabricius ab Aquapendente, Hieronymus, 30–31
Faraday, Michael, 94
Federal Reserve Board, U.S., 118, 140, 371, 382–83, 390
Feldstein, Martin, 18n, 19, 271–72, 379
Fermi, Enrico, 128, 147
Fibonacci, Leonardo, 163
“First Industrial Revolution, The” (Crafts), 21
First International Conference of the Institute for the Study of Free Enterprise Systems (1988), 289–304
Fischer, Stanley, 197, 213, 271, 290, 298, 373
Fisher, Frank, 357
Fisher, Irving, 92, 97
Ford, Henry, 86, 256
foreign trade, xvii–xviii, 54, 56, 140, 180–91, 223, 226, 237–40, 244, 250–51, 252, 262, 265–66, 267, 268, 269, 275, 290, 293, 298n, 300, 317–21, 341, 377–79, 378, 380, 406
Foundations of Analytical Economics (Samuelson), 118
Foundations of Economic Analysis (Samuelson), 108-9, 118-19, 120, 124–25, 131, 168, 190, 287
Fouquet, Roger, 334–35
Fowler, R. F., 167
France, 49, 50, 68, 72, 135, 219, 400
Frank, Robert, 386, 388, 396
Franklin, Benjamin, 36, 50, 94
Free to Choose (M. and R. Friedman), 204
free trade doctrine, 35–36, 42–45, 54, 62, 88, 212, 249
French Revolution, 49, 50, 400
Frenkel, Jacob, 193
Freud, Sigmund, 105n, 374
Friedman, Milton, 7, 8, 18n, 23, 104, 119, 133–35, 138-39, 150, 160–61, 165, 168, 176, 192, 204, 254, 268, 272, 298n, 299, 302
Friedman, Thomas L., 358, 372
Frisch, Ragnar, 101, 175
Fuchs, Victor, 7, 19

Galbraith, John Kenneth, 7, 110, 156, 302
Galen, 31, 32
Gama, Vasco da, 296
game theory, 89, 127, 131–32, 166, 171, 175, 176, 373, 386
Gates, Bill, 79, 344–49, 351, 352, 353, 355–56, 358, 359, 361, 362, 364, 367, 369, 395
General Theory of Employment, Interest and Money, The (Keynes), 99–102, 117, 124, 134
geometry, 56, 74–75, 96, 97, 114, 130, 162
Germany, 68, 72, 314, 341, 400, 405
Gerschenkron, Alexander, 239
Gibbon, Edward, 36, 45
Gibbs, Willard, 115, 116, 118
Gifts of Athena, The (Mokyr), 375
Gilder, George, 202
Gillispie, Charles Coulston, 31, 95
Glaeser, Edward, 306–8
Glasgow, University of, 5, 29, 34
Glazer, Amihai, 278-79
Godwin, William, 50–51, 61, 202
Golden Bowl, The (James), 212
Goldsmith, Charles, 395
goods, xvi, 69–71, 163–65
aggregate, 55, 106, 248
changing sets of, 323–24
club, 278-88
consumer, 38, 53, 99, 185, 223, 251, 330, 335, 337, 360, 402
conventional, xvi, 280
excludable, xvi, 280, 282–83, 297, 385
fixed sets of, 199, 323–26
flow of, 35, 39–40, 99, 115, 329–30
impure vs. pure, 282
indivisible, 151–52, 217, 283–84, 285, 291–92, 351
intermediate, 223, 281
introduction of, 216–17, 222, 227, 235, 299, 323–26, 365–66
nonrival, xvi–xvii, xxii, 26, 211, 282–304, 309, 312, 321–22, 365, 377–79, 380, 385–86, 392, 396, 404
nonrival, partially excludable, xvi, xxii, 283–87, 291–304, 380
private, xvi, 82, 281, 282, 291–92
public, xvi, 26, 82, 145, 219, 257, 280, 281–82, 283, 286–87, 291–92, 377–78
quantity of, xix, 71, 112–13, 218, 256
rival, xvi–xvii, 25, 26, 282–83, 385–86
social, 282–83
transportation of, 39–40, 329–30
see also products
Gordon, David, 197
Gore, Al, 352, 390–91
Gossen, Hermann Heinrich, 69–70
government:
authoritarian, 89, 130, 141, 179, 303–4, 319–20, 370
democratic, 64, 141, 179, 238, 261, 405–6, 407
economic intervention by, 35–36, 84, 105, 139, 141, 148, 153, 166–67, 174, 180–91, 234, 238, 272, 299, 358, 367–68, 406
investment subsidies of, xvii, 84, 86, 145, 180–81, 183, 187, 190, 212, 254–56, 269, 273–74, 351–52, 399–401
market regulation by, xix, 23, 35–36, 44–45, 80, 299, 358
trade policies of, 35–36, 54, 62, 88, 186–91, 212, 249, 252, 378
Great Britain, 26, 37–38, 48, 49, 51, 61, 62, 68, 72, 86, 102, 144, 237, 250, 263, 293, 296–97, 307–8, 314, 320, 337–38, 400–401, 405, 407
Great Chain of Being, The (Lovejoy), 324–25
Great Depression, 87, 88-89, 91, 99, 101, 102, 109, 114, 122–23, 134, 144, 150, 161, 179, 180, 191, 201
Greene, Harold, 362
Greenspan, Alan, 4–5, 371, 372
Griliches, Zvi, 7, 148, 149
gross domestic product (GDP), 300, 319
Grossman, Gene, 260, 273, 289, 300, 303, 305, 316, 370, 374
gross national product (GNP), 83–84, 146, 346
growth, economic:
arithmetic vs. geometric, 51–52, 58
balanced, 66–67, 109, 146
competition in, 35–47, 61–62, 71, 75–76, 107, 109, 110–11, 113, 121–22, 134, 156, 180–91, 200, 222
diminishing vs. increasing returns in, xix–xxi, 21–27, 45–47, 62, 66, 76, 80, 84, 88, 101, 107, 109, 112, 114, 121, 122, 124, 127, 144, 146, 151–53, 181, 184–89, 193, 194, 195, 201, 202, 206–8, 211, 216–21, 222, 234, 241–44, 251, 252–57, 266, 289, 298, 305, 306, 309, 314, 317–18, 343, 348-49, 372, 374, 380, 381, 384, 401
endogenous vs. exogenous factors in, 58, 66–67, 73, 121, 123, 144, 146–48, 154, 156, 199–200, 238, 240
geographic factors in, 39–40, 44, 298, 316–18
government subsidies in, xvii, 84, 86, 145, 180–81, 183, 187, 190, 212, 254–56, 269, 273–74, 399–401
industrialization and, 21, 48, 49, 53, 62, 66, 67–68, 72–73, 86–87, 156, 180, 219–25, 237, 254–56, 306–7, 310, 337–38, 339, 371
knowledge as basis of, xxii, 195, 201–2, 207–8, 210, 211, 215, 226–27, 257–58, 273, 283–308, 309, 327–28, 342, 371, 374–79, 399–408
limits to, 39–40, 44, 50–54, 56, 61, 109, 146
Mankiw-Romer-Weil model (augmented Solow model) for, 272–74, 298-99, 318-19, 376
Marxist analysis of, 62–65, 68, 99, 104–5, 122, 123, 221, 238, 307, 314, 337, 338
old growth theory for, 25, 26, 145–48, 174–76, 199–200, 298-99, 301–3, 318-19, 320, 327–28, 333, 338-39, 374–79, 385–88
population growth and, 49, 51–54, 55, 144, 146–47, 224, 262–63
private investment in, 50–56, 57, 62, 66, 68, 77–78, 86, 118-19, 146, 156, 160–61, 200
rate of, 145–46, 199–200, 262
savings levels and, 102, 118-19, 141, 145, 238-39
Solow model for, 199–200, 206, 207, 210, 211, 238-39, 241, 243, 262, 266–67, 270, 272–73, 274, 294, 311, 315, 318, 320, 321, 333, 335, 338-39, 341, 374–75, 376, 385
spillovers in, 80–81, 122, 152, 153, 168-69, 201, 209, 210, 211, 215–16, 222–23, 226, 241–47, 249–52, 256, 257, 259, 266, 267, 287, 288, 294, 306, 321–22
technological change in, 121, 123, 143, 144, 146–49, 154, 156, 200, 238, 240
as “underground river” issue, 62, 77, 87, 115, 153
wealth based on, xv, 37–48, 51, 54, 57–58, 66n, 71, 100, 141, 146, 147, 180
see also new growth theory
“Growth and Ideas” (Jones), 323
“Growth Based on Increasing Return Due to Specialization” (Romer), 259–60, 293
“Growth of Nations, The” (Mankiw), 377–79

Haavelmo, Trygve, 127
Hahn, Frank, 236, 301
Hall, Robert, 290, 301, 321, 322–23, 377
Hamilton, Alexander, 182, 373
Hamilton, William Rowan, 43
Hansen, Alvin, 117–18
Hansen, Lars, 205
Hanson, Ward, 234
Harberger, Arnold, 7, 18n, 204
Harrod, Roy, 106, 141, 142, 146
Harvard University, xxi, 13, 85, 87, 109, 115–18, 120–21, 122, 123, 124, 137, 138, 140, 142, 212, 214, 226, 269, 272, 275, 278, 345–46, 376, 400
Harvey, William, 30–32, 36, 40–41, 51, 97, 328
Hayek, Friedrich von, 93, 99, 176
Heckman, James, 205, 226, 257, 268, 280
Heisenberg, Werner, 96
Helpman, Elhanan, xiin, 189–90, 235, 251, 252, 260, 273, 283, 300, 303, 305, 316, 370, 374, 379–81
Henderson, Hubert, 99
Hertz, Heinrich, 95, 96
Heston, Alan, 265–66, 269, 274–75, 300
Hicks, John, 93, 106–7, 119, 163, 175, 236
Hilbert, David, 96
Hilbert space, 130, 132, 164
“History of Astronomy, The” (Smith), 33–34
Hong Kong, 179, 237, 319–20, 378
Horndal effect, 152
Hotelling, Harold, 150, 184–85, 326
“How High Are the Giant’s Shoulders?” (Caballero and Jaffe), 315
Howitt, Peter, 252
Hurwicz, Leo, 127
hyperplanes, 129–30, 161–62, 218

IBM, 191, 228, 346–47, 348, 349, 350, 355, 356, 357, 402–3
ideas:
as assets, 26, 295
as “bits,” xvii, 25, 291, 296, 297, 343, 375, 399
criticism of, 21–22, 31–32
development of, xi, 17, 22, 26, 27–28, 81, 267, 292–93, 295–97, 306, 321–22, 326
as factors of production, xxii, 342, 399
flow of, 295–97, 326
as “goods with energy,” 25
as instructions, 25–26, 291, 292, 293, 294
meta-, 372, 376, 401–2, 405, 406
new, xvii, xxi, 80, 81, 291–92, 321–22, 326, 327–28, 342, 360–61, 369
as nonrival goods, xvi–xvii, 26, 211, 283, 290–91, 296, 297, 309, 312, 321–22, 365, 377–79, 385, 404
“republic” of, 3, 8, 14
validation of, 327–28
Imperial Germany and the Industrial Revolution (Veblen), 314
“Incidents from My Career” (Krugman), 186
income levels, 35, 91, 117, 140, 143–44, 237–41, 335, 339
“Increasing Returns and Economic Geography” (Krugman), 317–18
“Increasing Returns and Economic Progress” (Young), 85–87, 91, 219–21, 233, 255
“Increasing Returns and Long-Run Growth” (Romer) (Romer ‘86), 22, 226–27, 256, 257, 261, 264
India, 237–38, 252, 397, 401, 404
industrialization, 21, 48, 49, 53, 61–62, 66, 67–68, 72–73, 86–87, 156, 180, 219–25, 237, 254–56, 306–8, 310, 314, 320, 337–38, 339, 371
“Industrialization and the Big Push” (Shleifer, Murphy and Vishny), 254–56
Industrial Revolution, 21, 48, 49, 53, 68, 72–73, 237, 310, 314, 323, 337–38, 339
infinite-dimensional spreadsheet, 161–65, 166, 171, 173, 174, 209, 218, 294, 323, 325
inflation rate, 141–42, 148, 166–67, 176, 184, 229, 371, 382
intellectual property, 110, 219, 263, 284–87, 290, 293, 295, 297, 318, 344–45, 377, 378, 379, 380, 385, 407
Internet, 228, 343–44, 346, 349–69, 370, 371, 388-97
Internet Engineering Task Force (IETF), 352–53, 354
Introduction to Economic Growth, An (Jones), xiin, 341–42
Invention, Growth, and Welfare (Nordhaus), 328
inventions, xv, 26, 40, 48, 57, 80, 221, 263–64, 292, 294, 309n, 340, 341, 366–67, 369
“Investment and Technical Progress” (Solow), 264
“Investment under Uncertainty” (Lucas and Prescott), 170–71, 209
Invisible Hand, 37, 44, 46–47, 56, 62, 71, 75, 80, 82, 83, 99, 110, 113, 121, 127, 141, 150, 205, 218, 234, 249, 251, 262, 270, 304, 343, 365, 367

Jackson, Thomas Penfield, 357–62, 369
Jacobs, Jane, 245, 246, 259, 307–8, 317
Jaffe, Adam, 315
James, Henry, 212
Japan, 140, 157, 179, 180–81, 187, 190–91, 237–38, 250, 273, 320–21, 341, 361, 402, 404
Jefferson, Thomas, 335
Jevons, William Stanley, 69–70, 71
John Bates Clark Medal, 20, 268
Johnson, Harry, 192
Johnson, Lyndon B., 347
Jones, Charles I., xiin, 321–23, 341–42, 380
Jorgenson, Dale, 149, 289, 290, 321
Journal of Development Economics, 251
Journal of Economic Perspectives, 370
Journal of Political Economy, xv, 16, 172, 226–27, 243, 253, 256, 257, 290, 297–98, 303
Judd, Kenneth, 259
Justice Department, U.S., 228-29, 356–63, 369

Kaldor, Nicholas, 87, 114, 236
Kalecki, Michal, 101
Kantorovich, Leonid, 129, 154, 176
Kehoe, Tim, 212–13, 236, 247
Kemp, Jack, 290
Kennedy, John F., 120, 141, 148, 152
Kepler, Johannes, 103
Keynes, John Maynard, 27, 84, 85, 88-107, 108, 109, 114, 117–22, 124, 127, 128, 132, 134, 137–42, 147, 148-49, 159, 161, 165, 166, 167, 170, 174, 182, 191, 192, 197, 204, 205, 235, 247, 249, 268, 372, 374, 384, 386, 387
Kimpton, Lawrence, 203
Kindleberger, Charles P., 189, 229
King, Robert, 315
Klein, Burton, 149
Klein, Joel, 357
Klein, Lawrence, 127, 128, 137
Klenow, Peter, 321, 323
“knife-edge” problems, 142, 143, 209, 226, 243
Knight, Frank, 84, 85, 114, 134
knowledge:
appropriability of, 85–86, 150–51, 285, 295–97
common, 272–74, 298-99
creation of, xvii, xix, 149–51, 210, 215–16, 263, 264, 295–97, 339–40, 351
diffusion of, 152, 215–16, 220–21, 257–58, 306–7, 399–400
in economic growth, xxii, 195, 201–2, 207–8, 210, 211, 215, 226–27, 257–58, 273, 283–308, 309, 327–28, 342, 371, 374–79, 399–408
education and, 378, 388-97, 400, 401, 406–7
embodied vs. disembodied, 291, 294, 380
endogenous nature of, xxii, 195, 201–2, 207–8, 210, 211, 215, 226–27, 257–58, 273, 283–308, 309, 327–28, 342, 371, 374–79, 399–408
growth of, xviii, 23–24, 28, 54, 58-60, 62, 65, 66n, 144, 149–55, 243, 258, 283, 297–98, 305–6, 342, 360–61, 407–8
as indivisible, 114, 151–52, 217, 285, 291–92, 351
information vs., 295–97
as “instructions,” 25–26, 291, 292, 293, 294
learning curve in, 207, 250–51
as nonrival, partially excludable, xvi, xxii, 283–87, 291–304, 380
as nonrival goods, 211, 283–87, 290–91, 296, 297, 309, 312, 321–22, 365, 377–79, 385, 404
proprietary, 26, 44, 109, 110, 151, 184, 186, 215–16, 217, 219, 220–21, 222, 263, 284–87, 290, 293, 294–95, 297, 318, 344–45, 366–67, 377, 378, 379, 380, 385, 407
replication of, 29, 82–83, 211, 257–58, 295–97, 306–7
technological, see technology
value of, 23–24, 149–55, 257, 295–97
see also ideas
Königsberg bridges problem, 130
Koopmans, Tjalling, 127, 129, 137, 155, 163, 176, 206–7, 225
Kotar-Kotelly, Colleen, 362
Kravis, Irving, 265
Kremer, Michael, 308-12
Kreps, David, 341n
Krueger, Anne, 18-19
Krugman, Paul, 58-60, 180–91, 193, 198, 223, 226, 234, 235, 247–48, 250–51, 252, 256, 260, 271, 289, 290, 298, 316–18, 320–21, 361, 374, 377, 387, 388, 395–96
Kuhn, Thomas, 36, 155, 305, 372–73, 384
Kuznets, Simon, 126, 127, 133, 175, 210, 265, 297, 375n

labor:
agricultural, 49, 51–57, 61, 62, 66, 81, 163, 167, 210–11, 221
capital compared with, 75, 91, 143–44, 146, 148, 239–42, 377–78
cost of, 23, 66n, 111, 332–39
division of, xix–xx, 35, 38-39, 44, 46, 56, 58, 62, 64, 67, 84, 85–87, 114, 219–27, 220, 221, 259–60, 266, 267, 275, 288, 292–93, 297, 307–8, 311, 312, 313, 338, 343, 374, 405
as economic variable, 143–44, 146, 171, 266
as factor of production, xviii–xix, xxii, 41, 42, 52–53, 83–84, 245, 342, 399
industrial, see industrialization
market for, 38, 145, 208, 238, 239–42, 255, 262–63, 278, 332–39
migration of, 239–42
productive, 23, 38, 176, 209–10, 212, 243, 261–63, 312, 313
technological replacement of, 58, 64, 147, 148, 262–63
see also workers
Lafargue, Paul, 65
Laffer, Arthur, 192–93
Lagrange, Joseph-Louis, 70, 74
Laibson, David, 396
laissez-faire doctrine, 44, 88, 105, 270, 319–20, 367
Lakonishok, Josef, 254
Lamm, Richard, 196
land, xviii–xix, xxii, 41, 42, 50–54, 62–66, 75, 82, 83–84, 116, 208, 245, 342, 399
Landes, David, xiin
Lange, Oscar, 128
learning-by-doing approach, 151–53, 154, 168-69, 374
Le Chatelier’s principle, 116–17
Lectures on Macroeconomics (Fischer and Blanchard), 197
Leibniz, Gottfried Wilhelm, 295, 325
Lenin, V. I., 86, 254–56
Lenovo, 402
Leontief, Wassily, 93, 115, 122, 131, 133, 142, 175
Lever of Riches, The (Mokyr), 21
Levi, Arrigo, 157
Levine, David, 197–98
Levine, Ross, 315
Levitt, Theodore, 145
Levy, Frank, 403
Lewis, Michael, 372
Lewis, W. Arthur, 229
Licklider, J. C. R., 349n, 351, 367
lighting, cost of, 328-37, 341, 342, 381
Lincoln, Abraham, 375
Lincoln Labs, 120, 126
Lind, James, 296–97
Lindbeck, Assar, 18n, 373
Linder, Staffan Burenstam, 182–83, 186
linear programming, 129–31, 136, 142, 154, 160, 162, 170
Linear Programming and Economic Analysis (Samuelson, Solow and Dorfman), 131
Linear Programming and Extensions (Dantzig), 136
Linux operating system, 363–65, 368
Lipsey, Robert, 198
living standards, 57–58, 77–78, 265, 310–12, 319–21, 329, 331–32, 335–37, 339, 342, 358, 366, 407–8
Livingstone, David, 59
Logic of Collective Action, The (Olson), 281n
London School of Economics, 13, 85, 106, 114, 138
Lopokova, Lydia, 98
Lost Patrol, 155–57, 291, 302, 339–40
Lovejoy, Arthur O., 324–25
Lucas, Robert, xxii, 21, 22, 119, 136, 168-71, 173, 190, 197, 203–4, 205, 206, 208, 209, 235–48, 249, 250, 252, 256–59, 261, 264, 267, 272–73, 290, 294, 306, 333, 339, 373, 380

McCarthy, John, 351
McCloskey, Deirdre, 19, 229
McConnell, Campbell, 384–85, 388
McCulloch, J. R., 62
McGraw-Hill, 384–85, 386, 388, 391, 396
Machlup, Fritz, 264, 375n
McKenzie, Lionel, 137, 138, 155, 162, 225–26
Malthus, Thomas Robert, 50–54, 55, 57n, 58, 60, 61, 68, 70, 72, 100, 210, 263, 309, 311, 337–38, 341
Man and Economics (Mundell), 193
Manchester, England, 307–8, 320
Mankiw, N. Gregory, 270–74, 298-99, 318-19, 376–79, 386–88, 395–96
Mankiw-Romer-Weil model (augmented Solow model), 272–74, 298-99, 318-19, 376–79
Manuel, Frank, 63
marginalism, 69–71, 73, 75–76, 85, 143, 146, 185, 209–10, 360, 361
“Market for ‘Lemons,’ The” (Akerlof), 172, 173
markets:
agricultural, 49, 51–57, 81, 221
capital, 78-79, 120, 192, 208, 238, 239–42, 371, 377–78, 406
“complete,” 164–65
decentralized, 325–26, 365–66
domestic, 86, 180, 182–83, 293, 405–6
equilibrium of, 42–44, 71, 74, 97, 100, 106, 107, 110, 118-19, 121, 128, 137, 145, 150, 160, 164, 167, 171, 185, 186–87, 191, 192–93, 199, 206–7, 208, 209, 211, 218, 223–24, 233, 241, 255, 272, 278, 281, 294, 303, 305, 329
failure of, xvii, xx, 107, 153, 186–87, 211, 231–35, 240, 244–45, 248, 249, 270, 276–77, 280, 283, 287, 294–95, 302, 314, 343, 351
feedback in, 42–43, 233, 234, 248, 249–50, 255, 305
foreign, see foreign trade
free, 136, 139, 153, 186–87, 225, 268, 299, 363, 365–66, 370
global, xvii–xviii, 140, 157, 180–91, 229, 240–41, 316–18, 343, 348, 371, 377, 397, 399, 402–8
government regulation of, xix, 23, 35–36, 44–45, 299, 358
labor, 38, 145, 208, 238, 239–42, 255, 262–63, 278, 332–39
potential, 86, 220–21, 223, 293
prices set by, 41–42, 110–11, 218, 256, 276–78, 365–66
private, 286–87
share of, 43–47, 78-80, 111–12, 151, 153, 180–91, 216, 249, 281–82, 343–69, 386, 388, 405
supply and demand in, 73–74, 89, 100, 106, 186, 329–30, 387
volatility of, 44–45, 87, 99, 172, 269
“Market Signaling” (Spence), 172–73
Market Structure and Foreign Trade (Helpman and Krugman), 190, 251
Markowitz, Harry, 137, 160–61, 176
Marschak, Jacob, 127, 131, 137, 160–61, 199
Marshall, Alfred, 73–84, 88, 98, 105, 106, 107, 109, 110, 113, 117, 118, 119, 122, 129, 132, 134, 147, 152, 162, 205, 208, 209, 210, 219, 222, 225, 233, 234, 241, 244, 245, 251, 294, 307, 308, 317, 318, 325, 344, 348-49 368, 371, 383, 384, 385, 396
Marx, Karl, 62–65, 68, 99, 104–5, 122, 123, 221, 238, 307, 314, 337, 338
Massachusetts Institute of Technology (MIT), xxi, 13, 23, 24, 119–20, 126, 137–39, 142, 153–54, 156, 157, 159, 171, 173, 182, 185, 196, 197–98, 199, 202, 203, 212–13, 214, 215, 235–36, 252–53, 256, 270–71, 297–98, 301–3, 304, 349, 376, 388, 394
Mathematical Theory of Optimal Processes (Pontryagin), 154
Maxwell, James Clerk, 94–96, 97, 159
Meade, James, 106
“Meetings, the,” 3–27, 193, 212, 228-35, 259–60, 267, 322, 375, 382–83, 394, 395, 397
Memoirs of an Unregulated Economist (Stigler), 298n
Menand, Louis, 374
Menger, Carl, 69–70
Merton, Robert C., 197, 373
Microsoft Corp., 228, 286, 343–49, 352, 353, 354–69, 374, 392, 395
Miles, Marc, 193
Mill, James, 53, 66
Mill, John Stuart, xix, 66–69, 73, 77, 82, 144, 145, 147, 186, 210, 221, 335, 375, 383
Mints, Lloyd, 134
Mirrlees, James, 156
Modigliani, Franco, 161
Mokyr, Joel, 21, 375
monetarists, 104–5, 134, 166, 170, 174, 192–93
Monetary History of the United States, A (Friedman), 134
monetary policy, 35, 41, 278, 335, 376
monopolies, xx, 46–47, 62, 77, 79–81, 109, 110–15, 121–22, 125, 151–52, 153, 166, 172, 175, 184–90, 208, 215–16, 217, 232–35, 250–51, 257–59, 274, 293–98, 303, 306, 308, 314, 325–26, 328, 343–69, 374, 377–78, 384, 385, 392
Moore, G. E., 98
Moore, Geoffrey, 133
Morgenstern, Oscar, 93, 131
Morrill Act (1862), 400, 401
“Mr. Keynes and the Classics” (Hicks), 106
Mundell, Robert, 191–94, 304
Munger, Charles, 274
Murnane, Richard, 403
Murphy, Kevin M., 253, 254–56, 289, 290, 360
Musgrave, Richard, 280, 282–83
Mustard, J. Fraser, 323
Myrdal, Gunnar, 175–76
Mystery of Economic Growth, The (Helpman), xiin, 379–81

Naipaul, V. S., 339
Napoleon I, Emperor of France, 49, 61, 72, 362, 400
“Narrow Moving Band, the Dutch Disease and the Competitive Consequences of Mrs. Thatcher, The” (Kruger), 250–51
Nash, John, 19, 176, 184, 373
Nathan, Robert, 126
National Bureau of Economic Research (NBER), 17, 27, 104, 132–33, 187–88, 261–70, 274–75, 288, 304, 323, 333
national income accounts, 126, 133, 165, 175, 265, 266, 328
“Nature of the Firm, The” (Coase), 372
Nature’s Metropolis (Cronon), 317
neighborhood effects, 80–81, 122
Nelson, Richard, 149, 152, 340, 375n
Netscape browser, 354–57, 368
network effects, xx, 232, 234, 314, 345, 370, 372
New Classicals, 174, 205, 301, 387
New Economic Policy, 86, 254–56
“New Goods, Old Theory, and the Welfare Costs of Trade Restrictions” (Romer), 323–26
new growth theory, 195–397
acceptance of, 28-29, 198, 212, 247–48, 289–304, 370–81
“atoms” vs. “bits” in, xvii, 25, 291, 296, 297, 343, 375, 399
business cycles in, 247, 252, 253–54, 274, 301, 371
Chicago-MIT rivalry in, 196, 198, 203, 212–13, 215, 252–53, 256, 297–98, 301–3, 304, 376, 394
competition as factor in, 209–10, 215–16, 294–95, 297–98, 306, 308, 358-59, 366–67
criticism of, 16, 21–24, 27, 28-29, 198, 212, 247–48, 270–74, 298-304, 318-26, 370–81, 385–86
data for, 264–70, 274–75, 300, 308, 328-37, 341, 346
discovery process in, xi, 207–12, 256, 408
endogenous factors in, 210, 211, 273, 289–304, 309, 321–22, 328, 365, 369, 374–75, 380, 382, 400, 407
exogenous factors in, xix, 210–11, 226–27, 241–42, 243, 244–47, 257, 263, 264, 303, 321, 328, 340, 374–75
foreign trade in, 223, 226, 244, 251, 252, 290, 293, 298n, 300, 317–18, 378
government subsidies in, 212, 254–56, 269, 273–74, 399–401
growth rate in, 210–12, 266, 268, 273–74, 293, 311–12, 319, 358-59
historical evidence for, 210, 215–16, 222–23, 225, 291, 328-37, 341, 342, 381
increasing returns in, xxi, 21–27, 151–55, 195, 202, 206, 207–9, 211, 216, 217–18, 220–21, 234, 241–44, 252, 253–56, 257, 266, 289, 298, 305, 306, 309, 314, 317–18, 321–23, 348-49, 372, 374, 380, 381
knowledge as factor in, xxii, 195, 201–2, 207–8, 210, 211, 215, 226–27, 257–58, 273, 283–308, 309, 327–28, 342, 371, 374–79, 399–408
literature on, xin, xv–xviii, xxii, 16, 18, 22–23, 28-29, 289–304, 321–22, 365, 369, 371–72, 379–81, 382, 385–86, 400, 407
mathematical basis of, xi, 22–23, 24, 27, 195–96, 200–201, 205–12, 216–19, 222–25, 238-39, 241–42, 249–50, 253–54, 259, 261, 264, 301, 303, 340
media coverage of, xi–xiii, 27, 370, 371–72
models for, xxi, 28-29, 195, 205–12, 216, 217, 218-19, 222–23, 225, 241–42, 303
monopolies in, 208, 215–16, 295, 314, 343–49, 352, 354–69, 374, 377–78, 392
old growth theory vs., 25, 26, 174–76, 199–200, 298-99, 301–3, 318-19, 320, 327–28, 333, 338-39, 374–79, 385–88
as paradigm shift, xi, 26–27, 201–2, 207–12, 228-48, 249, 250, 256, 297–99, 305–6, 370–81, 408
policy implications of, 212, 254–56, 269, 273–74, 290, 299, 328, 377–79, 380, 399–408
population growth in, 290, 308-12, 322, 380–81
private investment in, 200, 210, 211, 217, 223–24, 254–56, 262–63, 264, 267, 346, 407–8
Romer’s work as basis of, xi, xv–xviii, xxii, 16–17, 20–29, 46, 195–227, 261–70, 276–304, 321–28, 340–41, 344, 365, 366–69, 371, 374, 375, 376–80, 388-97, 399, 407, 408
specialization in, 219–27, 259–60, 266, 267, 275, 288, 292–93, 297, 307–8, 311, 312
spillovers in, 209, 210, 211, 215–16, 222–23, 226, 241–47, 249–52, 256, 257, 259, 266, 267, 287, 288, 294, 306, 321–22
technological change in, 25, 195, 208, 210, 219–27, 243, 257, 260, 262–64, 266–67, 273–74, 289–304, 309, 321–22, 328-37, 341–42, 365, 369, 372, 374–75, 380, 381, 382, 389, 400, 407
terminology of, 291, 303
wealth as factor in, 237–48, 250–51, 252, 254–56, 262, 268, 269, 273–74, 275, 299, 300, 316, 318-21, 341, 369, 377–79, 380, 406, 407
“New Growth Theory and Economic History: Match or Mismatch?” session (1996), 16–17, 20–27, 375, 382–83, 397
New Industrial State, The (Galbraith), 156
New Keynesians, 174, 235, 270–74, 378-79, 386, 387
Newman, Peter, 90, 218
New New Thing, The (Lewis), 372
Newton, Isaac, 28, 30, 33, 36, 43, 45, 56, 70, 74, 89, 101, 295, 408
Niehans, Jürg, 199, 408
1984 (Orwell), 142
Nixon, Richard M., 271
Nobel Prize, 4, 7, 8, 120, 137, 157, 158, 159, 161, 175–76, 194, 198, 204, 206, 248, 252, 265, 266–67, 279, 280, 301, 365, 373, 382
nonconvexities, xvii, 217–19, 224, 281, 285, 366, 381
Nordhaus, William, 155, 156, 171, 181, 182, 301, 302, 328-37, 385, 396
Novum Organum (Bacon), vii
Nutter, G. Warren, 280

O’Brien, Denis P., 54
Oi, Walter, 19
oil industry, 71, 181–82, 229, 328-30, 333, 341, 342
oligopoly, 113–14, 124
Olson, Mancur, 18n, 281n
“On Mathematical Methods in Theoretical Economics” (Schumpeter), 121
“On the Mechanics of Economic Development” (Lucas), 237–48, 249, 264
On the Motion of the Heart and the Blood (Harvey), 31–32, 36
On the Origin of Species (Darwin), 36, 325
Opel, John, 347
“Open Letter to Hobbyists” (Gates), 344–45
“open” standard, 232, 353, 363–65, 368
optimization, 70, 117, 129, 170 (optimal control), 171, 184, 204, 206–7, 209, 233, 240, 303
Orwell, George, 142
Osler, William, 32
Oxford University, 13, 30, 32, 33, 34, 45, 57, 88, 106, 107, 236

Papandreou, Andreas, 287n
Parker, William, 229–30
Pasteur, Louis, 103, 408
Pasteur’s Quadrant (Stokes), 102–4
patents, 26, 151, 215–16, 259, 286, 293, 294, 295, 313–14, 322, 340, 367–68, 369, 375, 400, 401
Patinkin, Don, 127
Pauli, Wolfgang, 262
Pearson, Peter J. G., 334–35, 396
Peddling Prosperity (Krugman), 387
Penn World Table, 265–66, 268, 269, 274, 308
Persson, Torsten, 315, 373
Petty, William, 34, 37–38, 309n
Phelps, Edmund, 152, 156–57, 302, 385, 386
Phillips, A. W., 148
Phillips curve, 148, 166, 174
physics, 28, 30, 33, 43, 56, 89, 90, 93, 94–97, 101, 102, 104, 115, 116, 128, 130, 147, 159, 163, 169, 182, 198-99, 262, 327, 408
Pigou, Arthur Cecil, 84, 99, 101, 234, 244
Pindyck, Robert, 189
Pin Factory, xix, 37, 38-40, 42, 46, 47, 48, 49, 54, 61, 62, 77, 80, 83, 85–86, 107, 110–11, 112, 113, 141, 144, 184, 206, 208, 216, 220, 223–24, 243, 251, 262, 294–95, 338, 343, 348
Planck, Max, 32
Plato, 324
Poinsot, Louis, 70
political economy, xxi, 18, 35, 49–50, 54, 56, 57, 61, 62, 66, 74, 100, 145, 280, 309n
Pontryagin, Lev, 154, 208-9
population growth, xviii–xix, 49, 50, 51–58, 144, 146–47, 224, 262–63, 290, 308-12, 322, 380–81
“Population Growth and Technological Change” (Kremer), 308-12
Porter, Michael, 306–7, 308, 371
Posner, Richard, 361
poverty, xvii, 38, 49, 51–52, 53, 72, 77–78, 146, 237–38, 244, 335, 341, 369, 377–79
Prescott, Edward C., 170–71, 209, 259, 290
President’s Council of Economic Advisers, 4, 5, 148, 152, 154, 328, 379, 382
prices, 41, 46, 84, 256, 404
adjustment of, 90, 170
agricultural, 49, 163, 167
comparative, 265–66
competitive, xx, 47, 110, 111–12, 275, 276–88, 283, 365–66
determination of, xx, 45, 46–47, 217
discriminatory, 112, 360
energy, 71, 181–82, 229, 328-37, 333, 341, 342, 381
flexible, 278, 287
futures, 163, 170, 329
housing, 67, 133, 161, 245–47, 248, 272
indices of, 335–37
international, 265–66
labor, 332–39
land, 75, 81, 116
manipulation of, 43–45, 46
market, 41–42, 110–11, 218, 256, 276–78, 365–66
money, 41, 278, 335
natural, 44, 54n, 218
oil, 71, 181–82, 229, 328-30, 333, 341, 342
options, 373
quantity and, 71, 112–13, 218, 256
real, 41, 278, 334–37, 342
reduction of, 46, 47, 151, 256
relative, 41, 162, 265
selling, 113, 295
stock, 87, 99, 252, 371
theory of, 69–71, 73, 167–68, 197, 204, 205, 254, 288, 293, 360
volatility of, 87, 99, 172
yield from, 76, 329–30
see also costs
Prigogine, Ilya, 198-99
Princeton University, 13, 126, 214, 260, 349
Principia Mathematica (Newton), 30, 36, 74
Principles of Economics (Mankiw), 386–88
Principles of Economics (Marshall), 73–84, 109, 233, 384, 385
Principles of Political Economy (Mill), 66–69
Principles of Political Economy and Taxation (Ricardo), 54–58
production:
aggregate, 210–11, 215
cost of, 73, 112–13
efficiency of, 46, 75–76, 78, 220–21, 331–32
factors of, xviii–xix, xxii, 35, 38-39, 41, 42, 52–53, 63–64, 82–83, 290, 342, 349; see also capital; labor; land
mass, 38-39, 79, 86, 186
over-, 57n
specialization in, 181, 186, 187, 190, 217, 220–21
volume of, 39–40, 76, 78, 99, 101
production function, 23, 76, 143, 146, 216, 223, 259, 266, 311, 321–22, 329, 377
productivity, 23, 38, 176, 209–10, 212, 243, 261–63, 312, 313
products:
array of, 173, 184–85, 216–17, 223–24, 227, 385
development of, 109, 216–17, 222
exhaustion of, 209–10
introduction of, 53, 184, 216–17, 223, 252
marginal utility of, 43, 69–71, 75–76, 185, 209–10
substitute, 81, 143, 186, 223
profits, 41, 57, 64, 66, 112, 217, 223–24, 278, 360, 366–67, 378
Ptolemy, 33, 36
public finance, xvii, 117, 151, 272, 279, 282–83, 284
Public Finance in Theory and Practice (Musgrave), 282–83
publishing industry, 220, 224, 383–97
“Pure Theory of Public Expenditure, The” (Samuelson), 280

quantum mechanics, 90, 95, 96, 104, 115, 130, 163
Quarterly Journal of Economics, 16, 113, 145, 172, 226, 266, 272–74, 312, 371
Queen’s University, 195–96, 198-201
Quesnay, François, 35, 71, 74–75, 165
QWERTY keyboard, 231–35, 240, 248, 249, 314, 343, 348, 353, 395

Radner, Roy, 137
railroads, 61, 75, 79–80, 111–12, 113, 121–22, 145, 225, 314, 355
Ramsey, Francis Plumpton, 90–91, 97, 98, 106, 142, 170, 206
RAND Corp., 104, 149–50, 165, 169, 184
rational expectations, 152, 165–69, 171, 173, 182, 187, 197, 268, 305, 382, 387
Raymond, Eric, 364–65
Razin, Asaf, 250
Reagan, Ronald, 191, 204, 212, 229, 261, 271, 362
“Real Business Cycles: A New Keynesian Perspective” (Solow and Mankiw), 274
regression analysis, 128-29, 265–66, 268, 269, 274–75, 298, 300, 308, 327
Reno, Janet, 357
rents, 41, 67, 81, 116, 133, 161, 245–47, 248
research and development (R&D), 46, 79, 120, 149–50, 151, 201, 215–16, 217, 286, 293, 294, 321–22, 328, 339, 401
Residual concept, 141–49, 157, 238, 338-39
Return to Increasing Returns, The (Buchanan), 29
Review of Economic Studies, 94n
Ricardo, David, 50, 52, 54–58, 60, 61, 63, 64–65, 66, 67, 68, 71, 72–73, 75, 77, 101, 147, 181, 183, 221, 251, 260, 268, 309, 337–38, 341, 383
Robertson, Dennis, 99
Robinson, James, 315
Robinson, Joan, 109, 113, 114, 121, 124, 149, 225, 236
Rochester, University of, 213, 214–16, 225–26, 257, 268-69, 275, 389
Rockafellar, R. T., 219
Rockefeller, John D., 79, 121, 214, 219
Rodrik, Dani, 315
Rohlfs, Jeff, 232
Romer, Beatrice, 196
Romer, David, 271, 272–74, 298-99, 318-19, 376–79
Romer, Paul, 195–227, 261–70, 276–304, 323–26, 376–79, 388-97
academic career of, 212–16, 225–26, 257, 268-69, 275, 288, 289, 304, 374, 376, 379, 388-94, 395, 397
at AEA San Francisco meeting (1996), 16–17, 20–27, 375, 382–83, 397
background of, xxii, 196–98
Romer, Paul (continued)
at Brookings Papers conference (1995), 376–79
Chicago-MIT rivalry and, 196, 198, 203, 212–13, 215, 297–98, 304, 376, 394
doctoral thesis of, 196, 210–12, 214, 215, 216, 226, 243, 289, 300, 303, 304, 380, 400
as economist, 46, 195–96, 201, 207–12, 248, 267–68, 287–88, 407–8
graduate studies of, 195–213
marriage of, 195, 198, 201, 213, 214–15, 288, 304, 397
as mathematician, 195–96, 205–12, 216, 217, 218-19, 222–23, 225, 303
in Microsoft antitrust case, 358-59, 392
new growth theory analysis by, xv–xviii, xxii, 16, 20–29, 46, 195–227, 261–70, 276–304, 321–28, 340–41, 344, 365, 366–69, 371, 374, 375, 376–80, 388-97, 399, 407, 408
publications of, xi, xv–xviii, xxii, 16–17, 22–23, 28-29, 212, 214, 226–27, 259–60, 261, 275–304, 323–26, 379, 380, 400; see also specific publications
reputation of, 22, 241–42, 247, 259–60, 261, 270–75, 287–88, 297–304, 371, 374, 375, 376, 394
as software company president, 304, 369, 379, 388-97
Romer, Roy, 196, 259, 261, 275, 390–91, 392, 397
Romer, Virginia Langmuir, 195, 196, 198, 201, 213, 214–15, 288, 304, 397
Roos, Charles, 93
Roosevelt, Franklin D., 271
Rosen, Sherwin, 205, 206, 219, 304
Rosenberg, Nathan, 313, 340, 375n
Rosenstein-Rodin, Paul, 254–55, 256n
Rosenthal, Ida, 245–46
Ross, Stephen, 19
Rubinfeld, Daniel, 357

Sachs, Jeffrey, 271, 377
Sala-i-Martin, Xavier, 269
Samuelson, Paul, 8, 104, 107, 108-9, 115–20, 124–25, 126, 131, 133, 137, 138-39, 140, 141, 147, 148, 154–55, 159, 162, 165, 166, 168, 173, 175, 181, 190, 197, 204, 205, 266, 280, 282, 287, 301, 316, 328, 383, 384, 385, 386, 387, 391, 396
Samuelson, Robert, 159
Sandler, Todd, 283, 284
Sargent, Thomas, 205, 394
savings rate, 89, 102, 118-19, 141, 145, 238-39
Scale and Scope (Chandler), 405–6
Scarf, Herbert, 165
Scheinkman, José, 204, 205, 214, 225, 226, 288, 306
Schelling, Thomas, 7
Schmalensee, Richard, 18n, 359–60
Schmookler, Jacob, 263, 264
Schoeffler, Sidney, 145
Scholes, Myron, 373
Schrödinger, Erwin, 96
Schroeder, Gerhard, 400
Schultz, Theodore W., 134, 149, 204
Schumpeter, Joseph, 85, 99, 106, 116, 121–24, 147, 153, 165, 224–25, 294, 299, 300, 306, 315, 325, 336, 340, 344, 361, 369
“Schumpeter Might Be Right” (King and Levine), 315
Science, the Endless Frontier (Bush), 120
Sen, Amartya, 7, 199
September 11th attacks (2001), 362–63
set theory, xx, 135, 161, 162, 163, 164, 165, 175, 217–19
Shackle, George, 142–43, 375n
Shakespeare, William, 30, 51
Shaw, George Bernard, 101
Shell, Karl, 154, 155, 156, 157, 209, 302
Sherman Antitrust Act (1890), 358, 405–6
Sheshinski, Eytan, 155, 156, 171, 301, 302
Shleifer, Andrei, 252–56, 289, 306, 373–74
signaling behavior, 172–73, 184, 295
Silk, Leonard, 145
Simon, Herbert, 127, 137
Simon, Julian, 18n, 202
Simons, Henry, 134
Singapore, 179, 237, 319–20, 401
Sketch for a Historical Picture of the Progress of the Human Race (Condorcet), 50
Skidelsky, Robert, 374
“Ski Lift Pricing, with Applications to Labor and Other Markets” (Barro and Romer), 275, 276–88
Smith, Adam, 35–47
authority of, 26, 27, 36, 40, 43
background of, 29–30, 94
“bifocal” approach of, 36, 37, 46–47, 73, 343
as economist, 23, 27, 28, 32–36, 37, 40–41, 42, 43, 46–47, 49, 73, 335, 338, 343, 365, 380, 406
increasing returns analyzed by, xix–xx, 26–27, 45–47, 66n, 220–21, 251
influence of, 26, 27, 36, 40, 49–50, 52, 55, 56, 62, 66, 67, 73, 83, 84, 147, 202, 236, 380
Invisible Hand concept of, see Invisible Hand, 32–34
labor specialization formulated by, xix–xx, 35, 38-39, 44, 46, 56, 58, 62, 64, 67, 84, 85–87, 114, 251, 292, 309n
market analysis by, xix–xx, 35–47, 111, 251, 292, 309n, 383, 408
methodology of, 32–36, 37, 40–41, 42, 43, 46–47, 73, 343
“moral sentiments” examined by, 34, 45, 408
Pin Factory example of, see Pin Factory
teaching career of, 5, 29, 34
writings of, see Wealth of Nations, The (Smith)
Smith, Bruce, 197–98
Sokoloff, Kenneth, 313–14
Solow, Robert, xvi, xxi, 27, 91, 131, 141–49, 152, 154, 157, 166, 171, 174, 176, 185, 193, 194, 197, 198, 199–200, 206–7, 210, 211, 229, 230, 235–36, 238-39, 241, 243, 247, 248, 252, 262, 264, 266–67, 270, 272–73, 274, 294, 298-99, 300, 301–3, 304, 311, 315, 316, 318, 320, 321, 327–28, 333, 335, 338-39, 341, 370, 374–75, 376, 382, 385, 401
Solow model, 193, 199–200, 206–7, 210, 211, 238-39, 241, 243, 262, 266–67, 270, 272–73, 274, 294, 311, 315, 318, 320, 321, 327–28, 333, 335, 338-39, 341, 374–75, 376, 385
Soviet Union, 18, 86, 97, 102, 115, 129, 141, 145, 146, 148, 149, 154, 229, 254–56, 303–4, 351, 386, 401
Spence, Michael, 172–73, 184, 345–46, 373
Sporkin, Stanley, 357–58
Sputnik launching (1957), 141, 145, 149, 351
Sraffa, Piero, 84, 93
Stalin, Joseph, 128
Standard Industrial Classification (SIC) system, 308, 346
Stanford Business School, 374, 379, 388-94, 395
Stanley, Henry, 59
Steuart, James, 43
Stigler, George, 18n, 46, 133–34, 136, 204, 206, 298n, 299, 367
Stiglitz, Joseph, 171, 173, 184–85, 209, 223, 251, 271, 301, 302, 314, 373, 383, 386, 396
stock market crash (1929), 87, 99
Stokes, Donald, 102–4
Stone, Richard, 265
Strahan, William, 36
Strong, Ben, 85
Structure of Scientific Revolutions, The (Kuhn), 36, 155, 305, 372–73
Summers, Lawrence, 212–13, 253, 266, 271, 289, 298, 301, 361, 373
Summers, Robert, 265–66, 269, 274–75, 300
Surgeon’s Mate, The (Woodall), 296
Surowiecki, James, 390
Swisher, Karen, 356

Tabellini, Guido, 315
tableau économique, 35, 71, 74–75, 165
“Tale of Two Cities” (Young), 319–20
Tarshis, Lorie, 102
Taussig, Frank, 113–14
taxation, 45, 84, 140, 146, 148, 194, 238-39, 267, 268, 272, 315, 334, 335, 378, 379, 401, 405, 406
Taylor, John, 382–83, 385–86, 396, 397
“Technical Change and the Aggregate Production Function” (Solow), 146–47
technology:
advances in, 26, 40, 48, 57, 80–81, 121–22, 294–95, 300, 308-15, 342, 343–72, 377–79, 399–400
bio-, xv, 400–401
change as result of, 26, 65, 121, 123, 143–48, 154, 156, 195, 200, 208, 210, 219–27, 238, 240, 243, 257, 260–67, 273–74, 289–304, 321–22, 328-37, 341–42, 365, 369, 371–75, 374–75, 380, 381, 382, 385, 400, 407
competition and, 57, 64, 121–22, 210, 211, 343–49, 354–69, 378, 400–401
control of, 26, 259, 286, 293, 294, 295, 313–14, 322, 343–69, 375, 400, 401
decentralized, 349–59
endogenous nature of, 25, 195, 208, 210, 219–27, 243, 257, 260, 262–64, 266–67, 273–74, 289–304, 309, 321–22, 328-37, 341–42, 365, 369, 372, 374–75, 380, 381, 382, 385, 400, 407
general purpose (GPT), 313
growth generated by, 121, 123, 143, 144, 146–48, 154, 156, 195, 200, 208, 210, 219–27, 238, 240, 243, 257, 260, 262–64, 266–67, 273–74, 289–304, 321–22, 328-37, 341–42, 365, 369, 374–75, 380, 381, 382, 400, 407
information, 66–67, 154, 370, 388-97
investment in, 210, 211, 351–52, 367–68
labor-saving, 58, 64, 147, 148, 262–63
as nonrival, partially excludable good, xvi, xxii, 283–87, 291–304, 380
profits from, 57, 64, 378
shared, 306–7, 320
see also computers
Theory of Externalities, Public Goods, and Club Goods, The (Cornes and Sandler), 283, 284
Theory of Cycles in National Technology Leadership, A (Kruger, Brezis and Tsiddon), 316
Theory of Economic Development (Schumpeter), 121
Theory of Games and Economic Behavior, The (von Neumann), 131–32, 134, 161
Theory of Industrial Organization, The (Tirole), 235, 298n
Theory of Moral Sentiments, The (Smith), 34, 45
Theory of the Leisure Class, The (Veblen), 110
Theory of Value (Debreu), 165
Thomas Aquinas, Saint, 324
Thurow, Lester, 157, 361
Tiebout, Charles, 281n
Tinbergen Jan, 101, 175, 189
Tirole, Jean, 235, 298n
Tobin, James, 141
Tocqueville, Alexis de, 338
topology, xx, 130, 154, 162, 163, 164, 171, 172, 199
Torvalds, Linus, 364–65
Toynbee, Arnold, 337
Trade Policy and Market Structure (Helpman and Krugman), 260
Trajtenberg, Manuel, 313
Treatise on Money (Keynes), 99
Tsiddon, Daniel, 316
Tullock, Gordon, 18n, 280
typewriters, 231–35, 240, 248, 249, 314, 315, 343, 348, 353, 393–94, 395
“Tyranny of Numbers, The” (Young), 320

unemployment rate, 88, 99, 100, 101, 102, 114, 141–42, 148, 166–67, 174, 267
United States:
antitrust legislation in, 228-29, 347, 358-59, 361, 362, 405–6
capitalism in, 405–6
economic studies in, 5–6, 88, 107, 108
economy of, 72, 86, 126, 137, 140–44, 180, 261–63, 371–72, 403, 404–8
education in, 400, 401, 406, 407
foreign trade of, 140, 267
gross national product (GNP) of, 146
immigration to, 400, 407
space program of, 141, 145, 149, 350–51
urban centers, 245–47, 248, 249, 259, 306–8, 317–20, 404
Usher, A. P., 144
Uzawa, Hirofumi, 155, 157, 243, 302

Value and Capital (Hicks), 106, 107
Varian, Hal, 286, 372, 394–95
Veblen, Thorstein, 85, 110, 314
Vickrey, William, 7
Vishny, Robert, 253, 254–56, 289
Volcker, Paul, 4
“Voluntary Exchange Theory of Public Economy, The” (Musgrave), 280
Volvo, 182–83
von Neumann, John, 90, 92, 96, 97, 106, 127, 130, 131–32, 134, 142, 161, 165, 199–201, 290, 349

wages, 20, 41, 52–53, 54n, 68, 75, 100, 116, 143–44, 173, 267, 335–37
Walras, Léon, 69–70, 71, 74–75, 106, 118, 121, 131, 150
Wanniski, Jude, 191–93, 194, 290
Warwick, University of, 157, 188-89, 194
“Was the Industrial Revolution Inevitable?” (Jones), 323
Way the World Works, The (Wanniski), 192
wealth, national:
accumulation of, xviii, 37–48, 50–54, 66n, 71, 100, 141, 146, 147, 180, 237–48, 250, 262, 310, 318-21, 334, 335, 367, 377–79, 407–8
disparities of, xvii–xviii, 54, 138-40, 141, 146, 180, 237–41, 243, 250–51, 252, 262, 265–66, 268, 269, 275, 300, 318-21, 341, 377–81, 406
in new growth theory, 237–48, 250–51, 252, 254–56, 262, 268, 269, 273–74, 275, 299, 300, 316, 318-21, 341, 369, 377–79, 380, 406, 407
population growth and, 49, 51–52, 53, 54n, 57–58
value compared with, 43, 66n, 68, 69–71, 99, 110, 335–37
Wealth and Poverty of Nations, The (Landes), xiin
Wealth of Nations, The (Smith), 28, 35–47, 48, 50, 52, 56, 66, 83, 94
Weber, Max, 338, 408
Wedgwood, Josiah, 48
Weil, David, 272–74, 298-99, 318-19, 323, 376–79
Weitzman, Martin, 27, 382
Whitehead, Alfred North, 28
“Why Indeed in America? Theory, History and the Origins of Modern Economic Growth” (Romer), 23
Wicksell, Knut, 75–76, 279
Will, George, 391
Williams, John, 189
Wilson, Edmund, 99
Wilson, Edwin Bidwell, 115, 116
Windows operating system, 228, 286, 343–69,
395
Wittgenstein, Ludwig, 90
Wolfe, Tom, 258
Woodall, John, 296
workers, 52–53, 54, 64, 67, 293, 377–78, 403–4
Workouts in Intermediate Microeconomics (Varian and Bergstrom), 394–95
World Bank, 265–66, 298, 373
World War II, 118, 120, 126, 128, 133, 134, 140, 149, 169n, 182, 271, 349–50
World Wide Web, 354–57, 363, 365
W. W. Norton & Company, 394–95, 396

Yale University, xxi, 13, 92, 137, 182, 187, 214, 328, 329
Young, Allyn, 84–87, 90, 91, 110, 114, 134, 206, 219–21, 224, 233, 254, 255, 259, 292, 319, 325, 344, 347
Young, Alwyn, 319–21
Young, Brigham, 63

Ziman, John, 14