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Edmund Phelps, Raicho Bojilov, Hian Teck Hoon and Gylfi Zoega, Dynamism: The Values That Drive Innovation, Job Satisfaction and Economic Growth

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By Antara Haldar

Dynamism: The Values That Drive Innovation, Job Satisfaction and Economic Growth, Edmund Phelps, Raicho Bojilov, Hian Teck Hoon and Gylfi Zoega (2020) 256pp., £29 hardback, Harvard University Press, Cambridge MA, ISBN 9780674244696

An abiding question for economists through the ages, from The Wealth of Nations (Smith 2012/1776) to the more recent bestseller, Why Nations Fail (Acemoğlu and Robinson, 2013) has been the source of prosperity for nations. What makes some nations thrive, and others not? For Edmund Phelps, winner of the 2006 Nobel Prize in economics, the paradigmatic instance of the unleashing of prosperity at a global level (‘mass flourishing’) is the birth of modern capitalism in Britain and the US, and it is the question of the psychological roots of this material progress – and its rise and fall – that he addresses in his current scholarship. His particular focus is on the invisible forces driv- ing the engine of growth and innovation – dynamism.

page: 348 – 355
Prometheus: Critical Studies in Innovation
Volume 38, Issue 3
SKU: 380307

SKU: 380307 Category: Tag:

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By Antara Haldar

Dynamism: The Values That Drive Innovation, Job Satisfaction and Economic Growth, Edmund Phelps, Raicho Bojilov, Hian Teck Hoon and Gylfi Zoega (2020) 256pp., £29 hardback, Harvard University Press, Cambridge MA, ISBN 9780674244696

An abiding question for economists through the ages, from The Wealth of Nations (Smith 2012/1776) to the more recent bestseller, Why Nations Fail (Acemoğlu and Robinson, 2013) has been the source of prosperity for nations. What makes some nations thrive, and others not? For Edmund Phelps, winner of the 2006 Nobel Prize in economics, the paradigmatic instance of the unleashing of prosperity at a global level (‘mass flourishing’) is the birth of modern capitalism in Britain and the US, and it is the question of the psychological roots of this material progress – and its rise and fall – that he addresses in his current scholarship. His particular focus is on the invisible forces driv- ing the engine of growth and innovation – dynamism.

page: 348 – 355
Prometheus: Critical Studies in Innovation
Volume 38, Issue 3
SKU: 380307

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