How much credit can be given to entrepreneurship for the unprecedented innovation and growth of free-enterprise economies? In this book, some of the world's leading economists tackle this difficult and understudied question, and their responses shed new light on how free-market economies...

This compendium of essays brings together some of William Baumol's most distinguished and acclaimed papers with some that are more rare, including a discussion of the growth and innovation mechanism that accounts for the unprecedented growth performance of the market economies. Amongst many...