Innovation Economics: The Race for Global Advantage

Innovation Economics: The Race for Global Advantage

Robert D. Atkinson

Language: English

Pages: 440

ISBN: 0300205651

Format: PDF / Kindle (mobi) / ePub


This title delivers a critical wake-up call: a fierce global race for innovation advantage is under way, and while other nations are making support for technology and innovation a central tenet of their economic strategies and policies, America has no robust innovation policy at all.

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Plenitude: The New Economics of True Wealth

The Invisible Hand of Power: An Economic Theory of Gate Keeping (Modern Heterodox Economics)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

monitors of firm performance and the ineffectiveness of the British takeover mechanism in singling out poor performance and leading to efficiency gains post-merger may make the German arrangements unambiguously superior.”24 In the United States, too, this pressure to achieve short-term profits all too often has meant sacrificing long-term investment. As the Business Roundtable, the leading trade association for large American businesses, reported, “The obsession with short-term results by investors,

they almost always were deployed to firms in the same nation, so while individual workers and sometimes communities like Buffalo or Cleveland could be hurt, the nation as a whole only had to pay the transition costs (e.g., lost output while the worker was unemployed). When a high-wage, high-value-added steel mill closed in Buffalo but opened in Birmingham, Alabama, that production stayed in America. The new mill may have even used some of the same equipment that was moved from Buffalo. Buffalo may

from the manufacturing of a technology-based product is fundamentally wrong. In reality, as Shih and Pisano point out, “The outsourcing did not stop with low-value tasks like simple assembly or circuit-board stuffing. Sophisticated engineering and manufacturing capabilities that underpin innovation in a wide range of products have been rapidly leaving too.”79 Greg Tassey likewise excoriates the received wisdom that the United States can outsource manufacturing but keep the higher-value-added

have vocal and powerful constituencies pressing for government to redistribute wealth rather than to grow it through innovation. What then are the prospects for global innovation and the race for global innovation advantage for individual nations? Winning the race requires an entrepreneurial and competent business community willing to make investments in innovation that may not pay off in the next quarter or year. But it also requires a government willing to craft and implement effective the race

as global economic integration has become much more widespread, the scope of economic competition has substantially broadened. Today, what China does affects what happens in California, and vice versa. As places around the globe compete with each other for economic advantage, their innovation capacity has become a vital element of this competition. However, the race for global innovation advantage creates both global opportunities and threats, because countries can implement their innovation

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