Terug Terug

The Free-Market Innovation Machine Analyzing the Growth Miracle of Capitalism

Name: The Free-Market Innovation Machine
Author: William J. Baumol

Auteur: William J. Baumol

Taal: Engels

Afbeeldingen

Artikel vergelijken

Vergelijk met andere artikelen

Bekijk nu

Auteur: William J. Baumol

Engels
Hardcover
9780691096155
01 april 2002
336 pagina's

Alle productspecificaties

Samenvatting

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 rival innovation. So firms have split the difference through the sale of technology licenses and participation in technology-sharing compacts that pay huge dividends to the economy as a whole - and thereby made innovation a routine feature of economic life. This process, in Baumol's view, accounts for the unparalleled growth of modern capitalist economies. Drawing on extensive research and years of consulting work for many large global firms, Baumol shows in this original work that the capitalist growth process, at least in societies where the rule of law prevails, comes far closer to the requirements of economic efficiency than is typically understood. Resounding with rare intellectual force, this book marks a milestone in the comprehension of the accomplishments of our free-market economic system - a new understanding that, suggests the author, promises to benefit many countries that lack the advantages of this immense innovation machine.

Productspecificaties

Inhoud

Taal: en
Bindwijze: Hardcover
Oorspronkelijke releasedatum: 01 april 2002
Aantal pagina's: 336
Illustraties: Nee

Betrokkenen

Hoofdauteur: William J. Baumol
Hoofduitgeverij: Princeton University Press

Overige kenmerken

Editie: New title
Studieboek: Nee
Verpakking breedte: 152 mm
Verpakking hoogte: 26 mm
Verpakking lengte: 235 mm
Verpakkingsgewicht: 624 g

EAN

EAN: 9780691096155

Je vindt dit artikel in

Categorieën: Economie & Financiën

Economie

Theorie & Filosofie

Boeken
Taal: Engels
Beschikbaarheid: Leverbaar
Boek, ebook of luisterboek?: Boek
Studieboek of algemeen: Algemene boeken

Reviews

Nog geen reviews

Hoe controleren en plaatsen wij reviews? Hoe controleren en plaatsen wij reviews?

Negatief, positief, neutraal: we zetten een review altijd online. We controleren wel eerst of ’ie voldoet aan onze reviewvoorwaarden en niet nep is. We controleren ook of ’ie is geschreven door iemand die het artikel heeft gekocht via bol.com en zetten dit er dan bij. De controles gebeuren automatisch, al kijken er soms mensen mee. Bol.com betaalt niet voor reviews. Als een reviewer door een andere partij is vergoed, staat dit in de review zelf.