The free-market innovation machine - William J. Baumol
analyzing the growth miracle of capitalism
KORTE INHOUD
Why has capitalism produced economic growth that so vastly dwarfs the growth record of other economic systems, past and present? Why have living standards in countries from America to Germany to Japan risen exponentially over the past century? William Baumol rejects the conventional view that capitalism benefits society through price competition--that is, products and services become less costly as firms vie for consumers. Where most others have seen this as the driving force behind growth, he sees something different--a compound of systematic innovation activity within the firm, an arms race in which no firm in an innovating industry dares to fall behind the others in new products and processes, and inter-firm collaboration in the creation and use of innovations.
While giving price competition due credit, Baumol stresses that large firms use innovation as a prime competitive weapon. However, as he explains it, firms do not wish to risk too much innovation, because it is costly, and can be made obsolete by riv...
While giving price competition due credit, Baumol stresses that large firms use innovation as a prime competitive weapon. However, as he explains it, firms do not wish to risk too much innovation, because it is costly, and can be made obsolete by riv...
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2002 Uitgever: Princeton University Press 318 paginas Taal: Engels ISBN-10: 0691096155 ISBN-13: 9780691096155Koop dit boek tweedehands
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Boek in goede staat, wat lichte sporen van gebruik aan de stofomslag. [Titel: The Free-Market Innovation Machine]
