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Investment in innovation in industrialized economies increasingly is taken over by large firms that operate their own R&D divisions and transform technological change into a routine bureaucratized process. Powerful competitive forces require firms to do this for survival. But such routinized...
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contributions in entrepreneurship economics and point to areas for future research. Baumol contributed an impressive number of … important insights, increasing our understanding of entrepreneurship from both a macro and a micro perspective. He also devoted …, unproductive, and destructive entrepreneurship and his associated idea that the institutional framework, "the rules of the game …
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