The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism 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 centu
| TITLE | : | The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism |
| AUTHOR | : | |
| RATING | : | 4.92 (395 Votes) |
| ASIN | : | 069111630X |
| FORMAT TYPE | : | Paperback |
| NUMBER of PAGES | : | 336 Pages |
| PUBLISH DATE | : | 2004-04-11 |
| GENRE | : |
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. Howe
EDITORIAL :
Honorable Mention for the 2003 Award for Best Professional/Scholarly Book in Economics, Association of American Publishers
"Mr. Baumol's contribution is not to emphasize the impact of innovation but to pinpoint how competition forces companies to make innovation routine. The traditional analysis says that capitalism blunders at generating innovation over the long run. Mr. Baumol reverses this presumption. He tells a tale rich in details about the market's use of collaboration to overcome problems of innovation. Along the way he turns standard analysis upside down."--Michael M. Weinstein, New York Times
"A brilliant book. What makes capitalism uniquely successful is the built-in pressure to generate new products and processes. Provided companies are forced to compete, the market will find a way to generate and diffuse an unending stream of innova
REVIEW :
I felt drawn to the pain and insecurity that each of them felt. JE always releases (at least some of) the fish he catches -- but instead of painfully hooking them, pulling them out of the water and suffocating them for a while, and then tossing them back in wounded and terrified, wouldn't it be at least as loving simply to leave the fish alone? Or does the lovingness consist in helping the fish experience the "authenticity [that] springs from anxiety in the face of death," another paraphrase from Heidegger (@95)?
There was one point that troubled me even more, however: the discussion of the title word itself. Not real. Keeping Score
PART FIVE - TWO SELVES
20. George C. HIGHLY RECOMMENDED for all football fans.. Then comes a chapter on composition and aesthetics, with some useful ways of thinking outside of the rules.
The last three chapters give seve
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