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Innovation – the development of new products and services as well as the application of new technologies – is widely assumed to be an important strategy for securing or improving competitiveness, growth and welfare. It is also a central strategy of regional development and the EU's cohesion...
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This paper analyzes the period 1867-79 in American economic history from an "Austrian" perspective. The post-Civil War boom, the Panic of 1873, and the subsequent downturn are investigated in light of Austrian Business Cycle Theory (ABCT) and its structure of production framework. This paper...
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