Knowledge has always been a powerful driver of human wellbeing. Economists since Adam Smith have created models to understand living standards growth. Solow’s neoclassical model was a great advance. Romer’s endogenous growth model extended Solow’s work to show that knowledge is at the foundation of all living standards growth. Hence, a living standards framework at the frontier of economic theory must address the creation and utilisation of knowledge. This lecture expands on Romer’s insights. It presents the AERU wellbeing economics and public policy framework to analyse distinctive roles of public policy in the development and utilisation of knowledge.
About the presenter
Professor Paul Dalziel, Deputy Director, AERU at Lincoln University
Paul Dalziel has been Professor of Economics at Lincoln University since 2002 and is Deputy Director of its Agribusiness and Economics Research Unit. He has published eleven books on economic policy, three of which have been translated into Japanese. His research outputs include more than 100 refereed publications and successful bids for programmes with a total budget of $9 million. He is lead author of Wellbeing Economics: The Capabilities Approach to Prosperity, which in four months became the fifth most downloaded book in economics published by Palgrave Macmillan in 2018.
Paul has a PhD in Economics from the University of Otago and a MCom (Hons) from the University of Canterbury. His research focuses on wellbeing economics and public policy.