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.
Throughout Disney's phenomenally successful run in the entertainment industry, the company has negotiated the use of cutting-edge film and media technologies that, J. P. Telotte argues, have proven ...fundamental to the company's identity. Disney's technological developments include the use of stereophonic surround sound for Fantasia, experimentation with wide-screen technology, inaugural adoption of three-strip Technicolor film, and early efforts at fostering depth in the animated image. Telotte also chronicles Disney's partnership with television, development of the theme park, and depiction of technology in science-fiction narratives. An in-depth discussion of Disney's shift into digital filmmaking with its Pixar partnership and an emphasis on digital special effects in live-action films, such as the Pirates of the Caribbean series, also highlight the studio's historical investment in technology. By exploring the technological context for Disney creations throughout its history, The Mouse Machine illuminates Disney's extraordinary growth into one of the largest and most influential media and entertainment companies in the world.
Products and services based on advanced technologies such as artificial intelligence and blockchain are normally considered to be for rich consumers in advanced countries. Fourth Revolution and the ...Bottom Four Billion demonstrates how marginalized and vulnerable groups with limited resources can also benefit from these technologies. Nir Kshetri suggests that the falling costs and the increased ease of developing and deploying applications based on these technologies are making them more accessible. He illustrates how key emerging technologies are transforming major industries and application areas such as healthcare and pandemic preparedness, agriculture, finance, banking, and insurance. The book also looks at how these transformations are affecting the lives of low-income people in low- and middle-income countries and highlights the areas needing regulatory attention to adequately protect marginalized and vulnerable groups from the abuse and misuse of these technologies. Kshetri discusses how various barriers such as the lack of data, low resource languages, underdeveloped technology infrastructures, lack of computing power and shortage of skill and talent have hindered the adoption of these technologies among marginalized and vulnerable groups. Fourth Revolution and the Bottom Four Billion suggests that it is the responsibility of diverse stakeholders—governments, NGOs, international development organizations, academic institutions, the private sector, and others—to ensure that marginal groups also benefit from these transformative innovations.
As we rely increasingly on digital resources, and libraries discard large parts of their older collections, what is our responsibility to preserve 'old books' for the future? David McKitterick's ...lively and wide-ranging study explores how old books have been represented and interpreted from the eighteenth century to the present day. Conservation of these texts has taken many forms, from early methods of counterfeiting, imitation and rebinding to modern practices of microfilming, digitisation and photography. Using a comprehensive range of examples, McKitterick reveals these practices and their effects to address wider questions surrounding the value of printed books, both in terms of their content and their status as historical objects. Creating a link between historical approaches and the emerging technologies of the future, this book furthers our understanding of old books and their significance in a world of emerging digital technology.
Academic institutions are facing a crisis in scholarly publishing at multiple levels: presses are stressed as never before, library budgets are squeezed, faculty are having difficulty publishing ...their work, and promotion and tenure committees are facing a range of new ways of working without a clear sense of how to understand and evaluate them. Planned Obsolescence is both a provocation to think more broadly about the academy's future and an argument for reconceiving that future in more communally-oriented ways. Facing these issues head-on, Kathleen Fitzpatrick focuses on the technological changes - especially greater utilization of internet publication technologies, including digital archives, social networking tools, and multimedia - necessary to allow academic publishing to thrive into the future. But she goes further, insisting that the key issues that must be addressed are social and institutional in origin. Springing from original research as well as Fitzpatrick's own hands-on experiments in new modes of scholarly communication through MediaCommons, the digital scholarly network she co-founded, Planned Obsolescence explores these aspects of scholarly work, as well as issues surrounding the preservation of digital scholarship and the place of publishing within the structure of the contemporary university. Written in an approachable style designed to bring administrators and scholars into a conversation, Planned Obsolescence explores both symptom and cure to ensure that scholarly communication will remain relevant in the digital future.
In the dot-com boom of the late 1990s, employees of Internet startups took risks--left well-paying jobs for the chance of striking it rich through stock options (only to end up unemployed a year ...later), relocated to areas that were epicenters of a booming industry (that shortly went bust), chose the opportunity to be creative over the stability of a set schedule. In Venture Labor, Gina Neff investigates choices like these made by high-tech workers in New York City's "Silicon Alley" in the 1990s. Why did these workers exhibit entrepreneurial behavior in their jobs--investing time, energy, and other personal resources that Neff terms "venture labor"--when they themselves were employees and not entrepreneurs? Neff argues that this behavior was part of a broader shift in society in which economic risk shifted away from collective responsibility toward individual responsibility. In the new economy, risk and reward took the place of job loyalty, and the dot-com boom helped glorify risks. Company flexibility was gained at the expense of employee security. Through extensive interviews, Neff finds not the triumph of the entrepreneurial spirit but a mixture of motivations and strategies, informed variously by bravado, naïveté, and cold calculation. She connects these individual choices with larger social and economic structures, making it clear that understanding venture labor is of paramount importance for encouraging innovation and, even more important, for creating sustainable work environments that support workers.
This study of innovation - its intensity, the sources used for knowledge creation, and its impacts - is based on a comprehensive survey of innovation of Canadian manufacturing firms. Attention is ...paid to the different actors in the system, who both compete with and complement one another. The study investigates how innovation regimes differ across size of firm and across industries. Owing to the high degree of foreign investment in Canada, special attention is paid to the performance of foreign-owned firms. The innovation regime of Canadian innovators is compared with results of studies of other industrialized countries. The picture of a typical innovator is a firm that combines internal resources and external contacts to develop a set of complementary strategies. The study finds that innovating firms depend not only on R&D, but also on ideas and technology from various other sources, both internal and external to the firm.
This book studies the impact of cultural factors on the course of military innovations. One would expect that countries accustomed to similar technologies would undergo analogous changes in their ...perception of and approach to warfare. However, the intellectual history of the Revolution in Military Affairs (RMA) in Russia, the US, and Israel indicates the opposite. The US developed technology and weaponry for about a decade without reconceptualizing the existing paradigm about the nature of warfare. Soviet 'new theory of victory' represented a conceptualization which chronologically preceded technological procurement. Israel was the first to utilize the weaponry on the battlefield, but was the last to develop a conceptual framework that acknowledged its revolutionary implications.Utilizing primary sources that had previously been completely inaccessible, and borrowing methods of analysis from political science, history, anthropology, and cognitive psychology, this book suggests a cultural explanation for this puzzling transformation in warfare. The Culture of Military Innovation offers a systematic, thorough, and unique analytical approach that may well be applicable in other perplexing strategic situations. Though framed in the context of specific historical experience, the insights of this book reveal important implications related to conventional, subconventional, and nonconventional security issues. It is therefore an ideal reference work for practitioners, scholars, teachers, and students of security studies.
Acceptance of new technology and systems by drivers is an important area of concern to governments, automotive manufacturers and equipment suppliers, especially technology that has significant ...potential to enhance safety. To be acceptable, new technology must be useful and satisfying to use. If not, drivers will not want to have it, in which case it will never achieve the intended safety benefit. Even if they have the technology, drivers may not use it if it is deemed unacceptable, or may not use it in the manner intended by the designer. At worst, they may seek to disable it.
