The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World

The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World

by Amar Bhide
     
 

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ISBN-10: 0691145938

ISBN-13: 9780691145938

Pub. Date: 01/24/2010

Publisher: Princeton University Press

Many warn that the next stage of globalization—the offshoring of research and development to China and India—threatens the foundations of Western prosperity. But in The Venturesome Economy, acclaimed business and economics scholar Amar Bhidé shows how wrong the doomsayers are.

Using extensive field studies on venture-capital-backed

Overview

Many warn that the next stage of globalization—the offshoring of research and development to China and India—threatens the foundations of Western prosperity. But in The Venturesome Economy, acclaimed business and economics scholar Amar Bhidé shows how wrong the doomsayers are.

Using extensive field studies on venture-capital-backed businesses to examine how technology really advances in modern economies, Bhidé explains why know-how developed abroad enhances—not diminishes—prosperity at home, and why trying to maintain the U.S. lead by subsidizing more research or training more scientists will do more harm than good.

When breakthrough ideas have no borders, a nation's capacity to exploit cutting-edge research regardless of where it originates is crucial: "venturesome consumption"—the willingness and ability of businesses and consumers to effectively use products and technologies derived from scientific research—is far more important than having a share of such research. In fact, a venturesome economy benefits from an increase in research produced abroad: the success of Apple's iPod, for instance, owes much to technologies developed in Asia and Europe.

Many players—entrepreneurs, managers, financiers, salespersons, consumers, and not just a few brilliant scientists and engineers—have kept the United States at the forefront of the innovation game. As long as their venturesome spirit remains alive and well, advances abroad need not be feared. Read The Venturesome Economy and learn why—and see how we can keep it that way.

Product Details

ISBN-13:
9780691145938
Publisher:
Princeton University Press
Publication date:
01/24/2010
Series:
Kauffman Foundation Series on Innovation and Entrepreneurship Series
Pages:
520
Product dimensions:
6.10(w) x 9.20(h) x 3.40(d)

Table of Contents

Preface ix

Introduction 1

Book 1 Cautious Voyagers Why VC-Backed Businesses Still Favor Home 31

1 VCs in New Ventureland 41

2 Advancing the Frontier: The Nature of Mid-level Innovation 59

3 Marketing: Edging into International Arenas 101

4 Offshortng: The Ins and Outs 152

5 Founders and Staff: Global at Home 206

6 On Methods and Models 239

Book 2 Embrace or Resist? 251

7 Alarmist Arguments 257

8 The Reassuring Realities of Modern Cross-Border Flows 272

9 Valuable Differences 287

10 Serving the Service Economy 296

11 Venturesome Consumption 308

12 Winning by Using 324

13 Nondestructive Creation 341

14 Immigrants: Uppers or Downers? 356

15 The Elusive Underpinnings 380

16 First Do No Harm 477

Acknowledgments 439

Appendix: Tables 443

Notes 467

References 483

Index 499

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