Growth Economics Archives - Page 3 of 5

STEM education and economic prosperity in less developed countries are weakly coupled due to inappropriate strategy, policy and management competence in building industrial economy out of STEM.

STEM Education and Economic Prosperity: Rethinking the Link in Less Developed Nations

Despite the growing emphasis on STEM (Science, Technology, Engineering, and Mathematics) education and its potential for economic prosperity, evidence from emerging economies suggests that high production of STEM graduates does…

STEM Indicators and Economic Growth show strong correlation from the data of a few selected countries like USA, Germany, and Finland.

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STEM Indicators and Economic Growth: How Education and Innovation Drive Prosperity

STEM stands for science, technology, engineering and mathematics, and its indicators include graduates, degrees, publications and patents. In addition to getting knowledge, what is the purpose of STEM competence is…

Economic prosperity from creative destruction demands far more than democratic and fair institutions to grow ideas for crossing the threshold and winning the global race

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Economic Prosperity: Innovation, Competition, and the Limits of Democratic Institutions

The offering of the Nobel Prize in Economic Sciences in 2024 underscores the importance of democratic and fair institutions for driving economic prosperity from ideas through Creative Destruction. However, like…

Economic theories for development policies in modern economy have losing relevance due to increasing automation of knoweldeg and ideas, and growing barrier to profit from ideas.

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Economic Theories for Development Policies–do they risk a dead end?

To drive economic growth, Governments all across the globe, notably in less developed countries as they pursue debt-based development programs, seek strategy and policy advice from economists. In response, economists…

For meeting the purpose of STEM in creating wealth by offering better alternatives in getting jobs done, STEM competence must overcome multiple layers of barriers

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Purpose of STEM–creating wealth for driving prosperity

STEM stands for science, technology, engineering, and mathematics. There has been a growing emphasis, participation, and investment in STEM education and research. Such a reality has raised a critical question…

Romer growth model suffers from a vital limitation as it does not focus on the dynamics of wealth creation out of ideas and rational decision making

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Romer Growth Model–questioning its efficacy

Paul Romer’s idea and object concept is highly prominent among the endogenous growth theories. By referring to the role of recipes in mixing ingredients, he emphasized the importance of ideas…

Idea supply and diffusion for creating wealth demands consideration of multidimensional issues

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Idea–Genesis, evolution, diffusion and wealth creation

Idea is about opinion or expression in organizing inputs to get jobs done. Due to ideas, population and per capita gross domestic product (GDP) have been growing rapidly and simultaneously…

Technology economics has bee gaining importance due to growing role of technology in creating wealth, driving and migrating prosperity, acquiring market power, causing trade frictions and creating increasing inequality.

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Technology Economics–questioning basic principles of economics

Technology economics refers to the study of production, consumption, and transfer of Wealth due to the invention and evolution of technology. It explores how technology race drives and migrates prosperity,…

STEM programs must focus on empowering graduates to win global race of innovation through technological ideas for driving economic prosperity and creating high-income jobs

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STEM Programs–not good enough for prosperity!

STEM Programs refer to undergraduate and graduate degree programs in science, technology, engineering, and mathematics (STEM). Primarily, it focuses on engineering and physical science education. Furthermore, literacy in STEM fields…

Industrial Economy is the outcome of scaling up inventions and innovations of pre industrial age through systematic flow of ideas stemming from STEM advancement

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Industrial Economy–stemming wealth from STEM

Our growing living standards and GDP are attributed to the industrial economy. Besides, the rise of natural resource-poor economies like Germany, Japan, South Korea, and Taiwan to high-income status has…

Importance of STEM has been growing due its increasing role in creating economic prosperity, but advancement of STEM indicators alone likely causes waste

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Importance of STEM–prosperity from knowledge and ideas

There has been a growing urgency for science, technology, engineering, and math (STEM) education and research. Although Muslims’ STEM excellence in the Middle Ages was due to the urge to…

Endless possibility of profiting from quality improvement and cost reduction through endless flow of ideas makes innovation opportunities unlimited

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Innovation Opportunities–is it endless?

Has everything been invented? Are Innovation opportunities endless? Why do we think so? What is the justification in favor of such a belief? As unfolding innovation opportunities keep shaping the…

Growth Economics

STEM Education and Economic Prosperity: Rethinking the Link in Less Developed Nations

STEM Indicators and Economic Growth: How Education and Innovation Drive Prosperity

Economic Prosperity: Innovation, Competition, and the Limits of Democratic Institutions

Economic Theories for Development Policies–do they risk a dead end?

Purpose of STEM–creating wealth for driving prosperity

Romer Growth Model–questioning its efficacy

Idea–Genesis, evolution, diffusion and wealth creation

Technology Economics–questioning basic principles of economics

STEM Programs–not good enough for prosperity!

Industrial Economy–stemming wealth from STEM

Importance of STEM–prosperity from knowledge and ideas

Innovation Opportunities–is it endless?

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