Summary and Info
This book explains the changes in industrial leadership from Britain to the United States earlier in this century and from the United States to Japan more recently, in terms of the changing business investment strategies and organizational structures in these nations. The author criticizes economists for failing to understand these historical changes. The book shows that this intellectual failure is not inherent in the discipline of economics; there are important traditions in economic thought that the mainstream of the economics profession has simply ignored.
More About the Author
William Lazonick (born in Toronto, Canada, on June 8, 1945) is an economist who studies innovation and competition in the global economy.
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