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An economist shows how imitation can sometimes beat innovation

• paulhauggis 12y ago
  Of course it makes sense for some countries. Some countries (IE: the US) have the money to put up for research and development..and are willing to take the risk. Once it's been proven, other countries (that don't have the money or are unwilling to risk it), benefit from it.
• swatow 12y ago
  The problem with theory papers like this is you an prove anything with the right model. Economics is not physics. It's very hard to create a model where you get out more than you put in. So if you have some plausible idea, it's almost certain you can formalize this as a mathematical model. People attack classical economics as simplistic, but classical economics is actually a very rare case where you can get an interesting or even counter intuitive result from your assumptions.