Awards

• Commended for Association of American Publishers Award for Best Professional/Scholarly Book in Economic 2003 (United States)
• Commended for Association of American Publishers/Professional and Scholarly Publishing: Economics 2003
• Commended for Association of American Publishers/Professional and Scholarly Publishing: Economics 2003.
• Runner-up for Association of American Publishers/Professional and Scholarly Publishing: Economics 2003.

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9780691116303

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Reviews

Mr. Baumol's contribution is not to emphasize the impact of innovation but to pinpoint how competition forces companies to make innovation routine... The traditional analysis ... says that capitalism blunders at generating innovation over the long run. Mr. Baumol ... reverses this presumption... [He] tells a tale rich in details about the market's use of collaboration to overcome problems of innovation. Along the way he turns standard analysis upside down. -- Michael M. Weinstein, New York Times A brilliant book... What makes capitalism uniquely successful is the built-in pressure to generate new products and processes. Provided companies are forced to compete, the market will find a way to generate and diffuse an unending stream of innovations. -- Martin Wolf, Financial Times The book could not be more timely. -- David Propson, New York Law Journal Over the past 50 years, William Baumol has made groundbreaking contributions to a wide range of economic fields, including antitrust, the study of productivity, and the nature of growth... At 80, and still going strong, he is among the last working members of the great generation of post-World War II economists. -- Business Week In this fine volume [Baumol] challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... [It is] readable, challenging, stimulating. -- Choice For managers looking for a big picture view, this is a useful account. And while it deflates the romantic view of the maverick innovative company, the book justly celebrates the positive results of this routinized 'innovation machine'--the unprecedented growth rates we've had under capitalism. -- Harvard Business Review You cannot fault Baumol for being unambitious. In this fine volume he challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... Readable, challenging, stimulating. -- Choice An important new book. -- David Crane, Toronto Star Professor Baumol is a giant in the field of economics... This book displays both his prodigious intellect and the sweep of his scholarship... [T]his is an important book. -- Ashish Arora, Journal of Technology Transfer

Mr. Baumol's contribution is not to emphasize the impact of innovation but to pinpoint how competition forces companies to make innovation routine... The traditional analysis ... says that capitalism blunders at generating innovation over the long run. Mr. Baumol ... reverses this presumption... [He] tells a tale rich in details about the market's use of collaboration to overcome problems of innovation. Along the way he turns standard analysis upside down. -- Michael M. Weinstein, New York Times A brilliant book... What makes capitalism uniquely successful is the built-in pressure to generate new products and processes. Provided companies are forced to compete, the market will find a way to generate and diffuse an unending stream of innovations. -- Martin Wolf, Financial Times The book could not be more timely. -- David Propson, New York Law Journal Over the past 50 years, William Baumol has made groundbreaking contributions to a wide range of economic fields, including antitrust, the study of productivity, and the nature of growth... At 80, and still going strong, he is among the last working members of the great generation of post-World War II economists. -- Business Week In this fine volume [Baumol] challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... [It is] readable, challenging, stimulating. -- Choice For managers looking for a big picture view, this is a useful account. And while it deflates the romantic view of the maverick innovative company, the book justly celebrates the positive results of this routinized 'innovation machine'--the unprecedented growth rates we've had under capitalism. -- Harvard Business Review You cannot fault Baumol for being unambitious. In this fine volume he challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... Readable, challenging, stimulating. -- Choice An important new book. -- David Crane, Toronto Star Professor Baumol is a giant in the field of economics... This book displays both his prodigious intellect and the sweep of his scholarship... [T]his is an important book. -- Ashish Arora, Journal of Technology Transfer

Mr. Baumol's contribution is not to emphasize the impact of innovation but to pinpoint how competition forces companies to make innovation routine... The traditional analysis ... says that capitalism blunders at generating innovation over the long run. Mr. Baumol ... reverses this presumption... [He] tells a tale rich in details about the market's use of collaboration to overcome problems of innovation. Along the way he turns standard analysis upside down. -- Michael M. Weinstein New York Times A brilliant book... What makes capitalism uniquely successful is the built-in pressure to generate new products and processes. Provided companies are forced to compete, the market will find a way to generate and diffuse an unending stream of innovations. -- Martin Wolf Financial Times The book could not be more timely. -- David Propson New York Law Journal Over the past 50 years, William Baumol has made groundbreaking contributions to a wide range of economic fields, including antitrust, the study of productivity, and the nature of growth... At 80, and still going strong, he is among the last working members of the great generation of post-World War II economists. Business Week In this fine volume [Baumol] challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... [It is] readable, challenging, stimulating. Choice For managers looking for a big picture view, this is a useful account. And while it deflates the romantic view of the maverick innovative company, the book justly celebrates the positive results of this routinized 'innovation machine'--the unprecedented growth rates we've had under capitalism. Harvard Business Review You cannot fault Baumol for being unambitious. In this fine volume he challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... Readable, challenging, stimulating. Choice An important new book. -- David Crane Toronto Star Professor Baumol is a giant in the field of economics... This book displays both his prodigious intellect and the sweep of his scholarship... [T]his is an important book. -- Ashish Arora Journal of Technology Transfer

Mr. Baumol's contribution is not to emphasize the impact of innovation but to pinpoint how competition forces companies to make innovation routine... The traditional analysis ... says that capitalism blunders at generating innovation over the long run. Mr. Baumol ... reverses this presumption... [He] tells a tale rich in details about the market's use of collaboration to overcome problems of innovation. Along the way he turns standard analysis upside down. -- Michael M. Weinstein New York Times A brilliant book... What makes capitalism uniquely successful is the built-in pressure to generate new products and processes. Provided companies are forced to compete, the market will find a way to generate and diffuse an unending stream of innovations. -- Martin Wolf Financial Times The book could not be more timely. -- David Propson New York Law Journal Over the past 50 years, William Baumol has made groundbreaking contributions to a wide range of economic fields, including antitrust, the study of productivity, and the nature of growth... At 80, and still going strong, he is among the last working members of the great generation of post-World War II economists. Business Week In this fine volume [Baumol] challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... [It is] readable, challenging, stimulating. Choice For managers looking for a big picture view, this is a useful account. And while it deflates the romantic view of the maverick innovative company, the book justly celebrates the positive results of this routinized 'innovation machine'--the unprecedented growth rates we've had under capitalism. Harvard Business Review You cannot fault Baumol for being unambitious. In this fine volume he challenges readers to rethink entirely the conventional wisdom concerning the nature and benefits of the capitalist (or free market) system... Readable, challenging, stimulating. Choice An important new book. -- David Crane Toronto Star Professor Baumol is a giant in the field of economics... This book displays both his prodigious intellect and the sweep of his scholarship... [T]his is an important book. -- Ashish Arora Journal of Technology Transfer

Author Information

William J. Baumol is Senior Research Economist and Professor of Economics, Emeritus, at Princeton University and Professor of Economics at New York University. The author, coauthor, or editor of more than thirty books, with translations into more than a dozen languages, Baumol has consulted for some of America's best-known firms. His books include Microeconomics, Superfairness, and Entrepreneurship, Management, and the Structure of Payoffs; among the books he has coauthored is Productivity and American Leadership.

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