Deciding between theories of how reasoning develops is hard

Although Sloutsky agrees with our interpretation of our data, he argues that the totality of the evidence supports his claim that children make inductive generalisations on the basis of similarity. Here we take issue with his characterisation of the alternative hypotheses in his informal analysis of the data, and suggest that a thorough Bayesian analysis, although practically very difficult, is likely to result in a more finely balanced outcome than he suggests. (c) 2008 Elsevier B.V. All rights reserved.

Accumulation of knowledge and accumulation of capital in early ‘theories’ of growth and development

This paper argues that prior to Adam Smith economic progress was largely conceived as being based on the accumulation of knowledge. The development by Turgot and Smith of a concept of capital that subsumed other factors contributing to development led their followers to focus on capital to the neglect of the independent role of knowledge. The paper demonstrates that this paradigmatic shift was identified and challenged by Bentham, Hodgskin and Rae who argued for the independent role of innovation but without lasting impact. © The Author 2009. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.