Wellbeing and Knowledge

In November 2019, Paul Dalziel gave an invited guest lecture at the New Zealand Treasury on the topic of wellbeing and knowledge. The Abstract for the lecture is as follows:

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. 

A copy of the lecture can be read here [external link].