Knowledge and the Wealth of Nations

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…-demonstrates-market-failure stories are remarkably hardy perennials, presented as established fact without acknowledging the Liebowitz/Margolis counterargument. (E.g., _Knowledge and the Wealth of Nations_ by David Walsh (2006), carries approving blurbs from _The Financial Times_ and _The Economist_ on its cover, and should be easy to find in a library, maybe even a chain bookstore. "Paul David" and QWERTY appear in the index many times, but Liebowitz and Margolis do not.)

"Knowledge and the Wealth of Nations" by David Warsh (2007). It's really two books: It shows how the academic field of Economics works today, and covers much of the field's history; and it also examines Paul Romer's theory of economic growth, which (succinctly) states that technological advancement is the key factor. Talk to any economist about growth these days, and they'll talk about Romer. It's a very readable book, and I highly recommend it to a wide audience.

…. See Davenport and Becks 'Attention Economy' as well as Mark Anielski's 'Economics of Happiness'. And to see the where I'm eventually trying to lead, see David Warsh's 'Knowledge and the Wealth of Nations' and the 2005 World Bank paper called "Where is the Wealth of Nations."