Can I read Barriers to Riches, by Parente, S.L. and Prescott, E.C. The Walras-Pareto Lectures at the École des Hautes Études Commerciales, Université de Lausanne. Cambridge and London: MIT Press, 2000, xvii+164 pp., $39.95 (cloth). on EtoBox?

Barriers to Riches, by Parente, S.L. and Prescott, E.C. The Walras-Pareto Lectures at the École des Hautes Études Commerciales, Université de Lausanne. Cambridge and London: MIT Press, 2000, xvii+164 pp., $39.95 (cloth). by Susan Wolcott is a Business, Management and Accounting article available to read on EtoBox.

What is Barriers to Riches, by Parente, S.L. and Prescott, E.C. The Walras-Pareto Lectures at the École des Hautes Études Commerciales, Université de Lausanne. Cambridge and London: MIT Press, 2000, xvii+164 pp., $39.95 (cloth). about?

is a valuable contribution to the field of growth economics. The focus of the book is on extensions of Solow's 1957 model. The main theoretical results of the authors' argument are already in print, primarily in their articles in the Journal of Political Economy (Parente and Prescott, 1994) and the American Economic Re6iew (Parente and Prescott, 1999). However the book ties their disparate points together in what the authors feel justified in proclaiming is no less than a new theory of development. Their thesis is that differences in income levels across countries are not due to differing preferences for saving versus consumption or to differing rates of population growth, as is suggested by the Solow model. The fundamental difference is the technology used in production. Though all countries have access to the same technology, 'differences are the primary result of country specific policies that result in constraints on work practices and on the application of better production methods at the firm level'. To be more exact, they argue that some countries' government policies allow the creation of groups with monopoly rights to economic resources. These groups adopt technologies tha

Who reads Barriers to Riches, by Parente, S.L. and Prescott, E.C. The Walras-Pareto Lectures at the École des Hautes Études Commerciales, Université de Lausanne. Cambridge and London: MIT Press, 2000, xvii+164 pp., $39.95 (cloth).?

Author

Susan Wolcott

Publisher

John Wiley and Sons; Wiley (John Wiley & Sons); John Wiley & Sons Inc.; Wiley (ISSN 0143-6570)

Published

2000

Language

EN

Field

Business, Management and Accounting (Social Sciences)