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Perspectives on the Performance of the Continental Economies$
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Edmund S. Phelps and Hans-Werner Sinn

Print publication date: 2011

Print ISBN-13: 9780262015318

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015318.001.0001

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Venturesome Consumption, Innovation, and Globalization

Venturesome Consumption, Innovation, and Globalization

(p.169) 7 Venturesome Consumption, Innovation, and Globalization
Perspectives on the Performance of the Continental Economies

Amar Bhidé

The MIT Press

This chapter examines the role of innovation as well as the implications of globalization. It argues that the willingness and ability of individuals and firms to acquire and use new products and technologies is as important as the development of such products and technologies. Moreover, unlike many individuals and organizations, nations do not have to outperform “competitors” in order to prosper. An innovation originating from one country does not impoverish other countries. Rather, it tends to improve standards of living in all countries that have the downstream capacity to acquire and implement the innovation.

Keywords:   innovation, globalization, consumers, consumption

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