Simon Kuznets’ Nobel acceptance lecture: Innovate social Institutions!

posted by
December 12, 2011
Let A Thousand Nations Bloom
by Z Caceres  
Posted in Commentary

"A century of foreign aid and large-scale ‘development’ projects has not brought prosperity to the developing world, and has likely even enshrined violent, slow-growth institutions. Kuznets suggests that developing nations can 'stimulate growth and structural change' by their ability to 'refer, select, or discard, legal and institutional innovations that are proposed in the attempt to organize and channel effectively the new production potentialities [of technology].'"  

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