Is it more or less profitable to diversify? Jacques Liouville made a survey of companies in the German mechanical engineering sector and finds it leads to two interesting lessons. First, unrelated diversification is not to be recommended; second, external growth is preferable to internal if...

Since about 1960, the industrialised countries have intervened to encourage the development of the technologies having a high growth potential. The governments of OECD countries in particular have admitted that the pursuit of economic growth and the creation of new jobs depend upon the...