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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 Ecomy, acclaimed business and ecomics scholar Amar Bhide shows how wrong the doomsayers are. Using extensive field studies on venture-capital-backed businesses to examine how techlogy really advances in modern ecomies, Bhide explains why kw-how developed abroad enhances--t 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 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 techlogies derived from scientific research--is far more important than having a share of such research. In fact, a venturesome ecomy benefits from an increase in research produced abroad: the success of Apple's iPod, for instance, owes much to techlogies developed in Asia and Europe. Many players--entrepreneurs, managers, financiers, salespersons, consumers, and t just a few brilliant scientists and engineers--have kept the United States at the forefront of the invation game. As long as their venturesome spirit remains alive and well, advances abroad need t be feared. Read The Venturesome Ecomy and learn why--and see how we can keep it that way.
Amar Bhide is the Thomas Schmidheiny Professor at the Fletcher School of Law and Diplomacy, Tufts University, editor of Capitalism and Society , member of the Council on Foreign Relations, and the author of The Origin and Evolution of New Businesses . A former McKinsey & Company consultant, Bhide was educated at the Indian Institute of Technology and Harvard Business School, where he graduated as a Baker Scholar and later served as an associate professor.
Winner of Axiom Business Book Awards: Business Ethics 2009 and PROSE Awards: Business, Finance & Management 2008.
Princeton University Press
Date of Publication
Management & Business: General
The Kauffman Foundation Series on Innovation and Entrepreneurship