The Free-Market Innovation Machine

By William J. Baumol. 2014

1,702 citations recorded by the source corpus.

Preface vii CHAPTER 1: Introduction: The Engine of Free-Market Growth 1 PART I: THE CAPITALIST GROWTH MECHANISM CHAPTER 2: The "Somewhat Optimal" Attributes of Capitalist Growth: Oligopolistic Competition and Routinization of Innovation 19 CHAPTER 3: Oligopolistic Rivalry and Routinization to Reduce Uncertainty 30 CHAPTER 4: Oligopolistic Rivalry and Routine Innovation Spending: Theory of the Engine of Unprecedented Capitalist Growth 43 CHAPTER 5: Independent Innovation in History: Productive Entrepreneurship and the Rule of Law 55 CHAPTER 6: Voluntary Dissemination of Proprietary Technology: Private Profit, Social Gain 73 CHAPTER 7: Oligopolistic Rivalry and Markets for Technology Trading 93 CHAPTER 8: Tradeoff: Innovation Incentives versus Benefits to Others (Distributive Externalities) 120 PART II: INTEGRATION OF INNOVATION INTO THE MAINSTREAM OF MICROTHEORY CHAPTER 9: Oligopolistic Competition, Pricing, and Recoupment of Innovation Outlays 151 CHAPTER 10: Microeconomic Theory of Industrial Organization in the "Innovation-Machine" Economy 161 CHAPTER 11: Recouping Innovation Outlays and Pricing Its Products: Continued 183 CHAPTER 12: Models of Optimal Timing of Innovation 199 CHAPTER 13: Licensing for Profit: Efficiency Implications 215 PART III: ON THE MACRODYNAMICS OF CAPITALISM CHAPTER 14: Capitalism's Unique Innovation Machine: Historical Evidence 245 CHAPTER 15: Macroeconomic Models and Relationships That May Limit Growth 262 CHAPTER 16: Feedback: Innovation as a Self-Nourishing Process 284 Bibliography 299 Index 307

Subfields: Political Science and International Relations

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Citations in the corpus

Entrepreneurship and the Theory of the Firm (2005, background): “The more recent work of Baumol (2002) focuses on the incentives under which judgemental decision-making takes place with special reference to the issue of how far ‘rent-seeking’ dominates entrepreneurial motivation under perverse incentive systems.”
Religion and Entrepreneurship (2007, background): “Recent studies suggest that entrepreneurship may be a key factor generating growth and development (Baumol, 2002).”
Analysing firm-specific and type-specific determinants of eco-innovation (2015, background): “Regarding internal innovation capabilities, in the general innovation theory, firm’s technological capabilities are emphasized (see e.g. Baumol 2002; Rosenberg 1974).”
Entrepreneurship and public policy (2009, neutral): “31 Bowles (1998), Baumol et al. (2007, pp. 203ff), and Smith (2003). 32 Audretsch et al.”
IS MICROCREDIT A BLESSING FOR THE POOR? A META-ANALYSIS (2015, background): “Scholars and policy makers alike agree that entrepreneurship is crucial for economic development (Baumol, 2002; Schumpeter, 1934).”
The drivers of eco-innovation and its impact on performance: Evidence from China (2018, background): “Technological capabilities play an important role in generating innovation (Baumol, 2002; Pavitt, 1984).”
Public Policy, Entrepreneurship, And Economic Freedom (2005, result): “This hypothesis is consistent with the recent works of Baumol (1990, 2002) and Boettke (2001, 2003), who propose that the efforts of creative, entrepreneurial individuals in different countries, or areas, are directed in different ways depending on the prevailing economic and political institutions.”
Innovation and the competitiveness of industries: comparing the mainstream and the evolutionary approaches (2008, background): “While sharing a similar emphasis on the importance of spillover effects for social welfare, Baumol’s view does however differ from the evolutionary in that his analytical results are obtained in an equilibrium and Pareto optimality type of analytical framework.”
Public sector innovation research: What’s next? (2010, neutral): “…extant public sector innovation research and analysis for implicitly framing the problem as: (a) that of how to be more like ‘the free market innovation machine’ (Baumol 2001, cf. Rolland 2005); and (b) that the solution lies in identifying and imitating ‘best practice’ (Eggers and Singh 2009).”
Entrepreneurs and innovation: The contingent role of institutional factors (2018, background): “Innovation plays a key role in market economies (Baumol, 2002).”
Linking emission trading to environmental innovation: Evidence from the Italian manufacturing industry (2015, background): “The supply side (technology push) factor is particularly important in the initial phase of development of a new product (cf. Rosenberg, 1974; Baumol, 2002), while demand from customers, other firms and exports generally play a relevant role in the diffusion phase (Pavitt, 1984; Rehfeld et al.,…”
Scaling Social Impact: Building Sustainable Social Ventures at the Base-of-the-Pyramid (2014, background): “Email: gdesa@sfsu.edu 2014 Taylor & Francis institutional constraints, create human well-being and economic growth, and act as a conduit for communities to receive products and services at global quality standards (Baumol 2002; Rangan 2007; Zahra et al. 2008).”