The paper studies the principal influences accounting for the unprecedented growth and innovation performance of the free-market economies. It indicates that vigorous oligopolistic competition, particularly in high-tech industries, forces firms to keep innovating in order to survive. This leads...

I can only applaud Dan Johansson's excellent and highly illuminating article (Johansson 2004). I have already and repeatedly joined other voices in noting the virtual expulsion of the entrepreneur from the contemporary mainstream literature of economics. I have also joined the call for the...

Endogenous growth theory has made many valuable contributions, perhaps most notably in providing the tools that permit more effective empirical investigation of the growth process. Its one shortcoming, which is stressed here, is its inability to live up to its name, for where it has failed is in...

Studies the theory of vertical integration, and examines the benefits both to the firm and to society. Looks at the reasons which might precipitate an increase in integration: technical economies of scope; economics of internal production resulting from market failure; and pursuit of...