Found 335 article(s) in category 'Innovation'

Space, the Final Economic Frontier

Space, the Final Economic Frontier. Matthew Weinzierl, Spring 2018, Paper, “The Soviet Union launched its Sputnik satellite in 1957. A year later, the National Advisory Committee for Aeronautics, a little-known agency that had played a limited role in pursuing basic research in aeronautics since 1915, was transformed into the National Aeronautics and Space Administration. The surge of US government spending on human spaceflight through the Apollo program in the 1960s cemented a public-sector centralized model of the US space sector, putting NASA at its hub for the next 50 years.Link

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Amazon should not be labeled a monopoly for being an effective retailer

Amazon should not be labeled a monopoly for being an effective retailer. Lawrence Summers, April 20, 2018, “Amazon should not be punished by the Trump administration for being an effective retailer, former Obama administration economic advisor Larry Summers said Friday. “I don’t think that growing by providing products at low cost is [a] monopoly,” the former Treasury secretary told CNBC’s Sara Eisen in an interview from the spring meetings of the IMF and World Bank in Washington. “Amazon is just being a really effective retailer. That is not a reason for antitrust.”Link

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Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012

Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012. William Kerr, April 2018, Paper, “We study immigrant entrepreneurship and firm ownership in 2007 and 2012 using the Survey of Business Owners (SBO). The survival and growth of immigrant-owned businesses over time relative to native-founded companies is evaluated by linking the 2007 SBO to the Longitudinal Business Database (LBD). We quantify the dependency of the United States as a whole, as well as individual states, on the contributions of immigrant entrepreneurs in terms of firm formation and job creation. We describe differences in the types of businesses started by immigrants and the quality of jobs created by their firms.Link

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A New Model for Industry-Academic Partnerships

A New Model for Industry-Academic Partnerships. Gary King, April 9, 2018, Paper. “The mission of the academic social sciences is to understand and ameliorate society’s greatest challenges. The data held by private companies holds vast potential to further this mission. Yet, because of its interaction with highly politicized issues, customer privacy, proprietary content, and differing goals of firms and academics, these data are often inaccessible to university researchers. We propose here a new model for industry-academic partnerships that addresses these problems via a novel organizational structure...” Link

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There’s ‘no fundamental problem’ with the US trade deficit

There’s ‘no fundamental problem’ with the US trade deficit. Ricardo Hausmann, April 6, 2018, Video, “The U.S. is wasting its time trying to fix a non-existent problem regarding its current account deficit, according to an economics professor at Harvard University. A number of U.S. policymakers have sought to justify stoking a trade war with China in recent weeks, saying it is “unfair” for the world’s biggest economy to have a current account deficit — which measures the flow of goods, services and investments into and out of the country — with Beijing.Link

 

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The Political Economy of Ideas: On Ideas Versus Interests in Policymaking

The Political Economy of Ideas: On Ideas Versus Interests in Policymaking. Dani Rodrik, March 2018, Paper, “We develop a conceptual framework to highlight the role of ideas as a catalyst for policy and institutional change. We make an explicit distinction between ideas and vested interests and show how they feed into each other. In doing so the paper integrates the Keynes-Hayek perspective on the importance of ideas with the currently more fashionable Stigler-Becker (interests only) approach to political economy. We distinguish between two kinds of ideational politics – the battle among different worldviews on the efficacy of policy (worldview politics) versus the politics of victimhood, pride and identity (identity politics).Link

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Kenneth Rogoff concerned by the dark side of the technology revolution

Kenneth Rogoff concerned by the dark side of the technology revolution. Kenneth Rogoff, March 9, 2018, Video, “Harvard University economics professor and world-class chess player Kenneth Rogoff is caught on the horns of a dilemma.On the one hand, the former International Monetary Fund chief economist believes a disruptive technological revolution is underway that will boost dwindling productivity and lift economic growth.Link

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Economists vs. Scientists on Long-Term Growth

Economists vs. Scientists on Long-Term Growth. Kenneth Rogoff, March 2, 2018, Opinion, “Artificial intelligence researchers and conventional economists may have very different views about the impact of new technologies. But right now, and forgetting the possibility of an existential battle between man and machine, it seems quite plausible to expect a significant pickup in productivity growth over the next five years.Link

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Industrial Policy: Love it or Hate it?

Industrial Policy: Love it or Hate it? Lant Pritchett, Ricardo Hausmann, February 28, 2018, Video, “Industrial policy has been one of the most heated issues in the history of development. It was viewed as a tool to stimulate activity, but debating what and how to incentivize is the wrong question. Ricardo Hausmann says the new industrial policy is an information revelation process about the state of possibilities, the nature of the obstacles and figuring out whether you can sort out the obstacles so that these new activities can take over.Link

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