Baumol on cooperation

James Baird jlbaird3 at hotmail.com
Sat Jun 5 09:48:43 PDT 1999



>>
>[With shareholders insisting on profit maximization, I wonder what the
>effect on Baumol's social return story will be.]
>
>New York Times - June 5, 1999
>
>Revising Capitalism: Coorperative Innovation Steals Competition's Thunder
>By MICHAEL M. WEINSTEIN
>

The funny thing about this article (and maybe I have to read it again) is that it purports to tell how competitive capitalism "creates" innovation. But it seems to me to be explaining how innovation can survive _in spite_ of competitive capitalism. (Particularly telling is the fact that researchers insist on the ability to share information with others in their disipline over the objections of their managers...)

Jim Baird

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