Growth Economics Archives

Bangladesh's complex development problem could be solved by driving the evolution of products and production processes through engaging local graduates in R&D

Bangladesh’s complex economic problems require a simple, homegrown solution: turning knowledge and ideas into Wealth by engaging graduates in the continuous evolution of locally produced products and production processes through…

AI, Robotics, and the Myth of Effortless Abundance

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AI and Economic Abundance: Beyond the Hype

AI and economic abundance have been new claims surfacing in the media. This essay critically examines bold predictions by Elon Musk and Sam Altman that artificial intelligence and robotics will…

Mechanics of wealth creation and migration are marked by the role of knowledge in inventing and refining, and fueling reinvention dynamics

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Mechanics of Wealth Creation and the Migration

Abstract Wealth is not defined by money or natural resources, but by the Utility humans derive from Getting jobs done through products, processes, and systems. This essay develops a knowledge-centered…

Despite the rise of Britain, Knowledge without prosperity has been a growing reality in Bangladesh due to disconnect in using knowledge in refining products and processes

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Knowledge Without Prosperity: Lessons from Britain for Bangladesh’s Growth Challenge

Abstract: This article examines why the accumulation of education and knowledge in Bangladesh has not translated into proportionate economic growth, despite historical evidence from Britain that economically meaningful knowledge can…

How prosperity migrated from Britain to America, among a few other questions, demands rethinking Mokyr’s industrial enlightenment thesis

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Prosperity Migrated from Britain to America: Rethinking Mokyr’s Industrial Enlightenment Thesis

Few economic historians have reshaped our understanding of modern economic growth as profoundly as Joel Mokyr. His lifelong pursuit—to uncover the intellectual origins of the unprecedented prosperity that transformed Britain…

Due to missing mechanics of wealth creation, Mokyr's thesis offers misleading perception about the role of knowledge in creating wealth and jobs

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Missing Mechanics of Growth in Mokyr’s Quest of Finding Intellectual Origins

Abstract: This write-up challenges the dominant knowledge-centric explanation of economic growth by explicitly contrasting Joel Mokyr’s “useful knowledge” thesis with insights from the evolutionary economics of the invention lifecycle. The…

Mechanics of growth is missing in theorising how scientific knowledge has contributed to long wave of growth, resulting in unfolding industrial revolutions

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Economists Miss Mechanics of Growth- Detecting Industrial Revolutions Until It’s Too Late

In the pursuit of identifying the intellectual origins of modern economic growth, Nobel laureate Joel Mokyr has drawn sustained attention to the role of useful scientific knowledge—knowledge that is not…

Nations rise and fall due to migration of prosperity because of leadership in taking advantage of industrial dynamics caused by reinvention of major products and processes

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How Nations Rise and Fall: Lessons from Britain, America, and China

The US faces challenges from countries like China in the Fourth Industrial Revolution—particularly in artificial intelligence, renewable energy, and electric vehicles—and concerns about its historical technological supremacy are growing. We…

Catching the next wave is a must for Bangladesh to migrate from declining industrial economy to be innovation led industrial powerhouse

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Catching the Next Wave: Product Evolution, Industrial Reinvention, and the Future of Bangladesh’s Industrial Economy

Abstract Bangladesh’s industrial growth strategy, rooted in importing mature technologies and relying on labor-centric value addition, has reached a point of structural decline. Drawing on the theory of product evolution,…

Economic growth policies demand strategic insights about competing waves which is beyond the scope of existing economic theories

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Economic Growth Policies: Why Should Economists Be Entrusted with Them?

Abstract This article questions the intellectual foundations of economic growth policies dominated by production-function economics, which frame development as the efficient allocation of labor, capital, and an abstract residual called…

Innovation for Growth agenda should be released from the grip of inflating valuation by spreading hypes of disruptive innovation narratives

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Innovation for Growth—too important to be left with hype spreading innovators

Innovation is about ideas that enable Jobs to be done better by consuming fewer resources. It has been at the core of improving our living standards. Innovation is the fuel…

Nobel Prize winning economic theories appear to be ineffective and source of misguidance for driving growth out of ideas

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Nobel Prize Winning Economic Theories—are they ineffective for getting and staying rich?

As we all know, ideas are at the core of creating Wealth from natural resources and labor. In the absence of ideas, all other production inputs are of no use.…

Growth Economics

Bangladesh Suffers from a Very Complex Problem: Is There a Simple Solution?

AI and Economic Abundance: Beyond the Hype

Mechanics of Wealth Creation and the Migration

Knowledge Without Prosperity: Lessons from Britain for Bangladesh’s Growth Challenge

Prosperity Migrated from Britain to America: Rethinking Mokyr’s Industrial Enlightenment Thesis

Missing Mechanics of Growth in Mokyr’s Quest of Finding Intellectual Origins

Economists Miss Mechanics of Growth- Detecting Industrial Revolutions Until It’s Too Late

How Nations Rise and Fall: Lessons from Britain, America, and China

Catching the Next Wave: Product Evolution, Industrial Reinvention, and the Future of Bangladesh’s Industrial Economy

Economic Growth Policies: Why Should Economists Be Entrusted with Them?

Innovation for Growth—too important to be left with hype spreading innovators

Nobel Prize Winning Economic Theories—are they ineffective for getting and staying rich?

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