In the hand-out on "Endogenous ¡­

In the hand-out on "Endogenous Growth and creative destruction", there is an incorrect statement as to the impact on expected growth of a more productive reasearch technology. The last two lines in the third bullit point should be read as: ".... negative impact on expected growth. However, in opposite direction, there is the impact on the marginal cost of production. The latter effect dominates." A revised version replaces the former one.