Listen now (23 min) | In economic models of “learning-by-doing,” technological progress is an incidental outcome of production: the more a firm or worker does something, the better they get at it. In its stronger form, the idea is formalized as a “learning curve” (also sometimes called an experience curve or Wright’s Law), which asserts that every doubling of
How useful are learning curves, really?
Listen now (23 min) | In economic models of “learning-by-doing,” technological progress is an incidental outcome of production: the more a firm or worker does something, the better they get at it. In its stronger form, the idea is formalized as a “learning curve” (also sometimes called an experience curve or Wright’s Law), which asserts that every doubling of
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