The late great economist Kenneth Arrow wrote an influential paper back in 1962 titled “The economic implications of learning by doing”. I am now, like many Malaysians without a background in naval matters, more informed about the different types of naval vessels. Mokyr, as the title of his book suggests, attributed this growth to “culture”, which is a big concept. It eventually made the suppression of new and different ideas a lost cause. The sustainability of economic growth and all that comes with it depends on its cultural strength.

Source: The Edge Markets August 15, 2022 09:35 UTC