Download or read book The Cost Disease written by William J. Baumol and published by Yale University Press. This book was released on 2012-09-25 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces the fast-rising prices of health care and education in the United States and other major industrial nations, examining the underlying causes which have to do with the nature of providing labor-intensive services.
Download or read book Global Trade and Conflicting National Interests written by Ralph E. Gomory and published by MIT Press. This book was released on 2022-06-07 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.Today improvement in one country's productive capabilities is often attainable only at the expense of another country's general welfare. The authors describe why and when this is so and why, in a modern free-trade environment, a country might have a vital stake in the competitive strength of its industries.
Download or read book The Microtheory of Innovative Entrepreneurship written by William J. Baumol and published by Princeton University Press. This book was released on 2010-07-01 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative look at the microeconomics of entrepreneurship Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs, inventors, and managers into standard models of the firm. William Baumol distinguishes between the innovative entrepreneur, who comes up with new ideas and puts them into practice, and the replicative entrepreneur, which can be anyone who launches a new business venture, regardless of whether similar ventures already exist. Baumol puts forward a quasi-formal theoretical analysis of the innovative entrepreneur's influential role in economic life. In doing so, he opens the way to bringing innovative entrepreneurship into the accepted body of mainstream microeconomics, and offers valuable insights that can be used to design more effective policies. The Microtheory of Innovative Entrepreneurship lays the foundation for a new kind of microtheory that reflects the innovative entrepreneur's importance to economic growth and prosperity.
Download or read book The Free Market Innovation Machine written by William J. Baumol and published by Princeton University Press. This book was released on 2004-04-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Theory of Environmental Policy written by William J. Baumol and published by Cambridge University Press. This book was released on 1988-02-26 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the economic theory of environmental policy and the factors influencing the quality of life. Recent research in environmental economics is incorporated as well as economic incentives for pollution control.
Download or read book Contestable Markets and the Theory of Industry Structure written by William J. Baumol and published by Houghton Mifflin Harcourt P. This book was released on 1988 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Entrepreneurship Management and the Structure of Payoffs written by William J. Baumol and published by MIT Press (MA). This book was released on 1993 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Departing from the orthodox view that imitation retards technical progress by reducing the reward to innovation, Baumol asserts that entrepreneurs can spread and speed the adoption of new technology and ideas throughout a market. By persistently looking to depart from standard practices, entrepreneurs fuel change and help keep an economy from falling into a rut. Often these changes can improve efficiency, increase production and spur growth.
Download or read book Productivity and American Leadership written by William J. Baumol and published by Mit Press. This book was released on 1991 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity and American Leadership examines and analyzes the long-run productivity performance of the United States, comparing it with that of the other industrialized nations. It shows that the U.S. record, both recent and over longer periods, is far better than is widely believed.William J. Baumol is Professor of Economics at Princeton University and New York University. Sue Anne Batey Blackman is Senior Research Assistant in the Department of Economics at Princeton University. Edward N. Wolff is Professor of Economics at New York University.
Download or read book Superfairness written by William J. Baumol and published by MIT Press. This book was released on 1986 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: With his characteristic acuteness and lucidity, William Baumol, one of America's foremost economists, tackles the problem of equity considerations in welfare economics by applying the novel "superfairness" criterion to the distribution of resources, product, income, and wealth that arises from economic decisions.
Download or read book The Invention of Enterprise written by David S. Landes and published by Princeton University Press. This book was released on 2012-02-26 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sweeping global history of entrepreneurial innovation Whether hailed as heroes or cast as threats to social order, entrepreneurs—and their innovations—have had an enormous influence on the growth and prosperity of nations. The Invention of Enterprise gathers together, for the first time, leading economic historians to explore the entrepreneur's role in society from antiquity to the present. Addressing social and institutional influences from a historical context, each chapter examines entrepreneurship during a particular period and in an important geographic location. The book chronicles the sweeping history of enterprise in Mesopotamia and Neo-Babylon; carries the reader through the Islamic Middle East; offers insights into the entrepreneurial history of China, Japan, and Colonial India; and describes the crucial role of the entrepreneur in innovative activity in Europe and the United States, from the medieval period to today. In considering the critical contributions of entrepreneurship, the authors discuss why entrepreneurial activities are not always productive and may even sabotage prosperity. They examine the institutions and restrictions that have enabled or impeded innovation, and the incentives for the adoption and dissemination of inventions. They also describe the wide variations in global entrepreneurial activity during different historical periods and the similarities in development, as well as entrepreneurship's role in economic growth. The book is filled with past examples and events that provide lessons for promoting and successfully pursuing contemporary entrepreneurship as a means of contributing to the welfare of society. The Invention of Enterprise lays out a definitive picture for all who seek an understanding of innovation's central place in our world.
Download or read book The History of Economic Thought A Reader written by Steven G Medema and published by Routledge. This book was released on 2004-02-24 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new reader in the history of economic thought is edited by two of the most respected figures in the field. With clearly written summaries putting each selection into context, this book will be of great use to students and lecturers of the history of economic thought as it goes beyond the simple reprinting of articles. Selections and discussions include such thinkers as Aristotle, John Locke, François Quesnay, David Hume, Jean-Baptiste Say, Karl Marx, William Stanley Jevons, Irving Fisher and Thorstein Veblen. The History of Economic Thought: A Reader can be used as a core textbook or as a supplementary text on courses in economic thought and philosophy, and will provide readers with a good foundation in the different schools of thought that run through economics.
Download or read book Baumol s Cost Disease written by William J. Baumol and published by Edward Elgar Publishing. This book was released on 1997 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the publication of Performing Arts: an Economic Dilemma in 1966, economists Baumol and Bowen created the subject of cultural economics. This text provides an insight into the development of Baumol's analysis and perception of the problems of the arts and other labour-intensive sectors.
Download or read book Economics written by William J. Baumol and published by South-Western Pub. This book was released on 2003 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ever since the First Edition, Economics: Principles and Policy was predicated on the view that practical issues and developments in the economy should influence the content of an introductory economics course. This book contains its share of theoretical material. But the theory is not merely an exercise in making students miserable; it is driven by issues that are real and current. And every discussion of theory is related to applications, so as to offer students a continuing sense of the relevance of the material to reality. - Publisher.
Download or read book Good Capitalism Bad Capitalism and the Economics of Growth and Prosperity written by William J. Baumol and published by Yale University Press. This book was released on 2007-01-01 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this important book, William J. Baumol, Robert E. Litan, and Carl J. Schramm contend that the answers to these questions lie within capitalist economies, though many observers make the mistake of believing that "capitalism" is of a single kind. Writing in an accessible style, the authors dispel that myth, documenting four different varieties of capitalism, some "Good" and some "Bad" for growth. The authors identify the conditions that characterize Good Capitalism--the right blend of entrepreneurial and established firms, which can vary among countries--as well as the features of Bad Capitalism. They examine how countries catching up to the United States can move faster toward the economic frontier, while laying out the need for the United States itself to stick to and reinforce the recipe for growth that has enabled it to be the leading economic force in the world. This pathbreaking book is a must read for anyone who cares about global growth and how to ensure America's economic future.
Download or read book Economic Theory and Operations Analysis written by William J. Baumol and published by . This book was released on 1965 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analytic tools of optimization; Microeconomic analysis; Recent developments in mathematical economics; Postcript on computers.
Download or read book Economics written by William J. Baumol and published by South Western Educational Publishing. This book was released on 2002-07 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prepared by Craig Swan, University of Minnesota The study guide assists students in understanding the text's main concepts. It includes learning objectives; lists of importnat concepts and terms for each chapter; quizzes that help students test their understanding and comprehension of concepts; multiple-choice tests for self-understanding; lists of supplementary readings and study questions for each chapter; "Economics in Action" sections that use current news articles to illustrate economics concepts; "Economics Online" exercises that outline useful Internet and Web sources for economic data and interaction.
Download or read book Entrepreneurship Innovation and the Growth Mechanism of the Free enterprise Economies written by Eytan Sheshinski and published by Princeton University Press. This book was released on 2007 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher description
