This paper discusses the reasons for the success of the New Growth theory. Given that the NGT has a somewhat tautological quality, that its essential ideas have been known for a long time, and that it does not make contact with a large literature on institutions and economic change, its strong success is arguably surprising. At any rate, it causes problems for models of scientific change that focus on novel facts as a criterion of progress, such as Lakatos'. The success of the NGT is better explained by, for example, Laudan's focus on increased problem-solving ability as an important cause of scientific change.
|Place of Publication||Copenhagen|
|Publisher||Institut for Industriøkonomi og Virksomhedsstrategi, Handelshøjskolen i København|
|Number of pages||29|
|Publication status||Published - 1997|
|Series||Working Paper / Department of Industrial Economics and Strategy. Copenhagen Business School|