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Keywords: Extent of the market
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Journal Articles
Journal:
Journal of Economic Studies
Journal of Economic Studies (2012) 39 (5): 590–603.
Published: 21 September 2012
... This paper constructs an original model of growth based on Adam Smith's notions of specialization and extent of the market. Growth depends on the specialization of labor in market production and learning‐by‐doing in transactions services. It is a model of sustained, but not infinite, growth. Findings...
