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ISBN: 1840649992Издательство: Edward Elgar Pub
What makes the US different from other advanced economies is the opportunity for newcomers acting as entrepreneurs to start new companies, a few of which will then change the world. This book develops three points. First, the New Economy is real: part micro, part macro, and all digital. Second, its emergence around networked PCs propelled the US resurgence in the world economy during the 1990s. Third, rather than subsiding, the current US lead in information technology (IT) could well increase over the next decade. The reason lies in the clustered linking of venture capital and entrepreneurs in a system that can be stylized as ?the invention of the method of innovation?. The central theme of the book is the vital role played by newcomers, acting as entrepreneurs, to overthrow the old order and blast through the deep tendencies toward stagnation that afflict advanced, affluent economies. Related strands are (1) an update and reappraisal of Joseph Schumpeter?s vision of...