Population and Ideas: A Theory of Endogenous Growth

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Abstract
How is sustained, exponential growth in per capita income possible? This paper argues that endogenous fertility and the increasing returns to scale implied by the non-rivalry of ideas are the fundamental ingredients in understanding endogenous growth. Large populations contain more Isaac Newtons and Thomas Edisons than small populations, leading to more ideas. The non-rivalry of ideas means that more ideas are associated with a higher per capita income. Combining these insights, exponential growth in the population will lead to exponential growth in per capita income.

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