Master Chefs Grow Slower Than New Cooks

In the latest podcast at MacroMusings, Alex Tabarrok, co-author of a couple of excellent textbooks on the principles of economics with Tyler Cowen, discusses what they mean by “cutting edge” growth and “catching up” growth.  The reason for this distinction arises because of the claim that particular institutions promote economic growth. However, we see countries … Continue reading Master Chefs Grow Slower Than New Cooks