Richard Nelson

Richard Nelson is an influential American economist known for his work in institutional economics and the study of how organizations and industries evolve over time. He emphasizes the importance of knowledge, innovation, and social practices in economic theory. Nelson collaborated on the "National Innovation Systems" concept, which explores how different countries foster technological advancement. His research highlights the role of institutions, such as government and industry interactions, in shaping economic outcomes. Nelson’s work helps us understand how complex systems of knowledge and collaboration drive economic growth and innovation in society.