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The Venturesome Economy

How Innovation Sustains Prosperity in a More Connected World

The Venturesome Economy by Amar Bhidé
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Many warn that the next stage of globalization--the offshoring of research and development to China and India--threatens the foundations of Western prosperity. But in The Venturesome Economy, acclaimed business and economics scholar Amar Bhidé shows how wrong the doomsayers are.

Using extensive field studies on venture-capital-backed businesses to examine how technology really advances in modern economies, Bhidé explains why know-how developed abroad enhances--not diminishes--prosperity at home, and why trying to maintain the U.S. lead by subsidizing more research or training more scientists will do more harm than good.

When breakthrough ideas have no borders, a nation's capacity to exploit cutting-edge research regardless of where it originates is crucial: "venturesome consumption"--the willingness and ability of businesses and consumers to effectively use products and technologies derived from scientific research--is far more important than having a share of such research. In fact, a venturesome economy benefits from an increase in research produced abroad: the success of Apple's iPod, for instance, owes much to technologies developed in Asia and Europe.

Many players--entrepreneurs, managers, financiers, salespersons, consumers, and not just a few brilliant scientists and engineers--have kept the United States at the forefront of the innovation game. As long as their venturesome spirit remains alive and well, advances abroad need not be feared. Read The Venturesome Economy and learn why--and see how we can keep it that way.

Princeton University Press; September 2008
521 pages; ISBN 9781400829088
Read online, or download in secure PDF format
Title: The Venturesome Economy
Author: Amar Bhidé
  • News
Innovative Consumption - New Yorker
Sun, 08 May 2011 21:02:34 -0700
New YorkerInnovative ConsumptionNew YorkerBut Bhidé, in his book “The Venturesome Economy,” shows that American consumers, ...
Coughlan appoints Enterprise Feedback Group on plan for Ireland to become a world-class knowledge economy by 2013 - FinFacts Ireland
Thu, 04 Dec 2008 01:08:34 -0800
FinFacts IrelandCoughlan appoints Enterprise Feedback Group on plan for Ireland to become a world-class knowledge economy by ...