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We explore the exercise of power in perpetuating status quo institutions. We give empirical examples of the economic importance of power and offer a definition of this elusive term. We then investigate the role of power in a modern capitalist economy, borrowing ideas from the classical...
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economics of patents and innovation incentives, with a special focus on the modern theory of cumulative innovation; and … Scotchmer worked in, with a particular focus on patent incentives and cumulative innovation"-- …Machine generated contents note: 1. Introduction; 2. Threads in the tapestry; 3. Innovation theory (I): cumulative …
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