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
|Institut for Industriøkonomi og Virksomhedsstrategi, Handelshøjskolen i København
|Number of pages
|Published - 1997
|Working Paper / Department of Industrial Economics and Strategy. Copenhagen Business School