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On the Welfare Significance of National Product in a Dynamic Economy
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0
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1976
Year
Welfare SignificanceTechnological ParadigmLawTechnology LawEconomic HistoryWelfare EconomicsDynamic EconomicsWelfare CriterionNational Innovation PoliciesDynamic EconomyEconomic AnalysisIntellectual PropertyTechnology TransferPublic PolicyEconomicsTechnical ChangeIndustrial ApplicabilityTechnology PolicyInnovationMain PropositionNational ProductGlobalization— IiTechnological ChangeEconomic PolicyBusinessTechnologyNet National Product
The paper introduces net national product and formulates the problem of its welfare significance. The study applies unanticipated technological change to analyze welfare implications of national product. The authors prove the main proposition and demonstrate the application through a dynamic model of technological change. The paper is organized into sections I–V with page references 156–161.
I. Introduction, 156. — II. A formulation of the problem, 156. — III. What is net national product? 159. — IV. Proof of the main proposition, 160. — V. Unanticipated technological change: an application, 161.