We analyze the rise and demise of Lucent Technologies from the time that it was spun off from AT&T in April 1996 to its merger with Alcatel in December 2006. The analysis, contained in the three sections that form the body of this paper, considers three questions concerning Lucent’s...

The employment problems that the United States now faces are largely structural. The structural problem is not, however, as many economists have argued, a labor-market mismatch between the skills that prospective employers want and the skills that potential workers have. Rather the employment...

Innovation is novelty - it involves doing new things in new ways. So new products, new processes, new organizational methods, new services, and so on, are all part of innovation. Technological innovation transforms and improves the technical attributes and performance characteristics of products...

With its startup firms, vertical specialists, venture capital, and highly mobile labor, the New Economy business model (NEBM) is one that remains dominant in the United States, and it is one that many national policy-makers and corporate executives around the world seek to emulate. At the same...

In the decade before the current economic crisis, the US biotechnology industry was booming. In a 2006 book, Science Business: The Promise, the Reality, and the Future of Biotech, Gary Pisano implies that, given the 10-20 year time-frame for developing biotech products and the lack of...