I am working on a paper on the dynamics on firm growth in the competitive markets. this work somewhat touches a previous work of Boldrin, and here, i confront on the aspect of non-rivalrous nature of ideas and their positive role in production.
some insights:
commodities that contain no ideas are generally non-rivalrous. in-fact, rivalrous ideas must have some economic value. but i am confronted with a puzzle, of the utility related to non-rivalrous ideas/goods i.e., technical knowledge can be a commodity since there are some embodied ideas in it. but some research point out about the non-rivalrous nature of ideas and their POSITIVE role in production. How does it stand then? Any answer? that would be great help.
Thanks in advance.
A beautiful explanation that you have provided that really explains the essence of human creativity and on the philosophy of thought. Thank you so much Dr. Palms again for such literal writeup that really helped me to break my gridlock on the above problem.
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