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Machinery Market

Machinery Market by PDF

Author :
Publisher :
Page : 1140 pages
File Size : 38,12 MB
Release : 1926
Category : Machine-tools
ISBN :

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Mexican Market for Industrial Machinery ...

United States. Bureau of Foreign and Domestic Commerce
Mexican Market for Industrial Machinery ... by United States. Bureau of Foreign and Domestic Commerce PDF

Author : United States. Bureau of Foreign and Domestic Commerce
Publisher :
Page : 38 pages
File Size : 48,45 MB
Release : 1929
Category : Machinery industry
ISBN :

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The Free-Market Innovation Machine

William J. Baumol
The Free-Market Innovation Machine by William J. Baumol PDF

Author : William J. Baumol
Publisher : Princeton University Press
Page : 332 pages
File Size : 18,32 MB
Release : 2004-04-11
Category : Business & Economics
ISBN : 069111630X

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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.

Machinery

Machinery by PDF

Author :
Publisher :
Page : 1048 pages
File Size : 31,50 MB
Release : 1922
Category : Mechanical engineering
ISBN :

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