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Scholars have attempted to explain geographic clustering in inventive activity by arguing that it is connected with clustering in production or new investment. They have offered three possible reasons for this link: because invention occurs as a result of learning by doing; because new...
Persistent link: https://www.econbiz.de/10005777390
Joseph Schumpeter argued in Capitalism, Socialism and Democracy that the rise of large firms%u2019 investments in in-house R&D spelled the doom of the entrepreneurial innovator. We explore this idea by analyzing the career patterns of successive cohorts of highly productive inventors from the...
Persistent link: https://www.econbiz.de/10005778073
For those who think of Cleveland as a decaying rustbelt city, it may seem difficult to believe that this northern Ohio port was once a hotbed of high-tech startups, much like Silicon Valley today. During the late nineteenth and early twentieth centuries, Cleveland played a leading role in the...
Persistent link: https://www.econbiz.de/10004976961
We argue that the emergence of a well-developed market for patented technologies over the late nineteenth and early twentieth centuries facilitated the emergence of a group of highly specialized and productive inventors by making it possible for them to transfer to others responsibility for...
Persistent link: https://www.econbiz.de/10005580144
Recent scholarly literature explains the spread of in-house research labs during the early 20th century by pointing to the information problems involved in contracting for technology. We argue that these difficulties have been overemphasized and that in fact a substantial trade in patented...
Persistent link: https://www.econbiz.de/10005589258
The standard view of U.S. technological history is that the locus of invention shifted during the early twentieth century to large firms whose in-house research laboratories were superior sites for advancing the complex technologies of the second industrial revolution. In recent years this view...
Persistent link: https://www.econbiz.de/10008614950
Persistent link: https://www.econbiz.de/10010934682
The legal rules governing businesses' organizational choices have varied across nations along two main dimensions: the number of different forms that businesses can adopt; and the extent to which businesses have the contractual freedom to modify the available forms to suit their needs. Until the...
Persistent link: https://www.econbiz.de/10010951205
British general incorporation law granted companies an extraordinary degree of contractual freedom to craft their own governance rules. In this paper we study the uses to which this flexibility was put by examining the articles of association written by three samples of companies from the late...
Persistent link: https://www.econbiz.de/10010951315
The freedom of citizens to form voluntary associations has long been viewed as an essential ingredient of modern civil society. Our chapter revises the standard Tocquevillian account of associational freedom in the early United States by accentuating the role of state courts and legislatures in...
Persistent link: https://www.econbiz.de/10011276437