This debate has been fueled by theoretical insights brought about by the "New Theories" (as Robert Gilpin refers to them): the theory of multiple equilibria, which posits the possibility of persistent bad equilibria; the theory of endogenous growth, which undermines some of the basic constructs of neoclassical economics (such as "the law of diminishing returns"); the thesis of "path dependency" (the role of history), the importance of geography; the role of information costs and asymmetries; and the role of clusters in achieving competitive advantages (Michael Porter's use of clusters in explaining competitive advantages reminds Gunnr Myrda's concept of cumulative causation), etc.
Tu debatu podstakla su i teorijska zapažanja koja su sa sobom donele takozvane "Nove teorije" (kako ih zove Robert Gilpin): teorija višestruke ravnoteže, koja iznosi mogućnost permanentne štetne ravnoteže; teorija endogenog rasta, koja dovodi u pitanje neke od osnovnih postavki neoklasične ekonomije (poput "zakona opadajućih prihoda"); teže o "načinima upravljanja" (uloži istorije), važnosti geografskog položaja; i uloge klastera u ostvarivanju konkurentskih prednosti (upotreba klastera od strane Majkla Portera u objašnjavanju konkurentskih prednosti podseća na koncept kumulativne uzročnosti Gunara Mirdala), itd.