Wallerstein (1979) The Capitalist World-Economy. p. 15.
“Aside from Yugoslavia, experiments with decentralization did not extend to planning innovation, the greatest weakness of the socialist economies. Even where markets were allowed to exert more influence over current production, the state was still responsible for planning the future. And state socialism provided only weak incentives for innovation. The Schumpeterian pressure that forced capitalist firms to innovate or die was not present in the planned economy.”
Barry Eichengreen, The European economy since 1945 : coordinated capitalism and beyond, Ch. 5 : Eastern Europe and the Planned Economy
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Barry Eichengreen 10
Economist 1952Related quotes
Source: Socialism: Past and Future (1989), p. 67
Bessen, James, and Eric Maskin. " Sequential innovation, patents, and imitation http://ec.europa.eu/internal_market/indprop/docs/comp/replies/appendix1_en.pdf." The RAND Journal of Economics, 40.4 (2009): p. 611.
"Nordic Solutions and Challenges: A Danish Perspective" http://www.vox.com/2015/10/31/9650030/denmark-prime-minister-bernie-sanders (October 2015), speech to Harvard's Kennedy School of Government.
2010s, 2015
In an article in Contingencies magazine, September/October, 2008 http://www.contingencies.org/septoct08/mccain.pdf
2000s, 2008
“Invention is the root of innovation. Innovation is the major force for change in the future.”
Comments made in the Q and A part of a speech at the Silicon Valley computer museum in 2005 regarding the energy spent in Silicon Valley at managing perception as opposed to creating new technology. In response to a question about the power of venture capital and consumer marketing and how it is determining the future of technology.