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Creating a Learning SocietyA New Approach to Growth, Development, and Social Progress$
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Joseph Stiglitz and Bruce Greenwald

Print publication date: 2014

Print ISBN-13: 9780231152143

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231152143.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 20 September 2021

Creating a Learning Firm and a Learning Environment

Creating a Learning Firm and a Learning Environment

(p.88) Chapter Four Creating a Learning Firm and a Learning Environment
Creating a Learning Society

Joseph E. Stiglitz

Bruce C. Greenwald

Columbia University Press

This chapter focuses on two critical aspects that would facilitate a learning architecture: creating a learning firm and a learning macro-environment. Learning firms are those that are large, long-lived, stable, and densely concentrated geographically. The chapter discusses why these attributes are conducive to learning, some of the reasons for the comparative advantage of the industrial sector in learning, and why that sector is more likely to give rise to learning externalities. It then turns to the reasons why the macroeconomic environment is key to creating a learning society. One reason is that much information is embodied within existing institutions, in complex webs of interactions. Key institutions—firms—often die in the face of high levels of instability and cannot be easily brought back to life when the economy recovers. Another reason is that learning requires resources, including access to capital. Instability may make capital less accessible and more costly.

Keywords:   learning society, economic architecture, learning architecture, learning form, macroeconomic environment, macroeconomic policy

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