A rules-based global trade system for intellectual property could help reinvigorate it by driving more specialization and cross-border cooperation among the world's inventors.
For Edmund S. Phelps's latest contributions to The Japan Times, see below:
Optimizing its resource allocation is far from all that China must do to boost prosperity. It is time to focus on workers and elevating the experience of their labor.
The remedy for Greece lies in adopting the right structural reforms, including dismantling corporatist arrangements and practices that obstruct innovation and entrepreneurship.