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

BAUMOL, William J.:

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Langue : anglais

Edité par Princeton & Oxford: Princeton University Press, 2002., 2002

0691096155 / 9780691096155

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Vendeur : Ted Kottler, Bookseller, Redondo Beach, CA, Etats-UnisTed Kottler, Bookseller

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First Edition. xii, 1 leaf, 318 pp; figs. Original cloth. Near Fine, in near fine dust jacket. Review copy, with slip. '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' (Princeton University Press Web site).

N° de réf. du vendeur 15968

Titre
The Free-Market Innovation Machine. Analyzing the Growth Miracle of Capitalism.
Auteur
BAUMOL, William J.:
Éditeur
Princeton & Oxford: Princeton University Press, 2002.
Année de publication
2002
État de l'article
Near Fine
Jaquette
Near Fine
Reliure
Hardcover
Langue
anglais
ISBN à 10 chiffres
0691096155
ISBN à 13 chiffres
9780691096155
Édition
1st Edition

Ted Kottler, Bookseller

Redondo Beach, CA, Etats-Unis

Vendeur avec une évaluation de 3 étoiles

Vendeur AbeBooks depuis 5 janvier 2002

Frais d'expédition à l'intérieur de ce pays : Etats-Unis

Article7 à 10 jours ouvrés3 à 5 jours ouvrés
Premier articleEUR 10,94EUR 18,95
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