독후감)지식경제학미스테리독후감(영문)

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As decided to study the economic growth and development class, I really want that the professor recommend many books. At the first class, Professor Kim suggested that read some books and write an essay. So I search the information about the books and finally choose ‘Knowledge and the Wealth of Nations’. Because this book is written by a journalist not economist – it makes me interested.
The book is divided into two parts. Part 1 treats the history of economy from Adam Smith to Robert Lucas; almost 300 years of the economy’s main events and characters are introduced. There are many interesting sequel of great scholars. For example I never knew that Adam smith had never visited pin factory to observe their division labor system.
The main content of this book is Part 2. In October, 1990 there were young economist whose thesis explain the economic growth by a mathematical model. Its thesis called ‘New Growth Theory’ written by Paul Romer.
The writer is a really big fan of Paul Romer. Paul Romer emphasize that the human capital is one of powerful engines for economic growth. It’s a huge change or attempt to make a variable endogenous. Before him the human capital is given exogenously and it means economist couldn’t explain fully about the sustainable economic growth.

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