In this new volume it is argued that network effects are much more common than usually assumed, and that they have a profound impact on many aspects of economic systems, especially technological change and economic growth. The analysis and modelling of this interrelationship is the central focus of this book. While there exists a vast body of literature on economic growth, the theories put forward so far have had limited success in explaining observed patterns of economic growth. ‘Growth cycles’ in particular continue to elude standard economic models, though evolutionary economics has made some progress. Seeking to fill the gap, Torsten Heinrich’s innovative approach uses microeconomics to explain heterogeneous sectoral dynamics on the meso level, and then aggregating these to observed macroeconomic growth rates. In this way, it is shown that an evolutionary model of technological change with network effects can explain not only commonly observed asymmetric industry structures, monopolies and oligopolies but also ‘growth cycles’. The book includes a comprehensive account of the most influential economic growth theories, a discussion of the research on network effects as well as an introduction to the methodology, the model, and a case study on the recent emergence of information and communication technology. This important new volume will be relevant to all those interested in theoretical economics, growth theory, innovation economics, agent based modelling and industry dynamics.

Drawing upon case studies of the steel industry in the US, Japan, South Korea, Brazil and India, this book explains how and why the steel industry has shifted from advanced capitalist countries to late industrializing countries. Anthony P. D'Costa examines the relationship between industrial change and institutional responses to technological diffu

Case-Based Reasoning to User Interface Software Tools

eBook: Economics 20th Edition

This book, based on extensive, original, detailed research presents a comprehensive overview of the Italian multinationals and their activities during the 1990s. It: surveys the size, geographical and sectoral distribution of Italian multinationals examines why they went international, how and what they gained discusses the strategic position of Italian multinationals in the world economy examines the effect of multinationals investment both inward and outward on the Italian economy provides detail on individual companies

Since ancient times the exercise of individual freedoms has been inseparable from the expansion of the market, driven by the search for profit. This force, namely capitalism, has stimulated human creativity and aggression in ways that have produced immense benefits. As capitalism has broadened its scope in the epoch of globalization, these benefits have become even greater. In an epoch of capitalist globalization, its contradictions have intensified. They comprehensively threaten the natural environment. They have intensified global inequality within both rich and poor countries, and between the internationalized global power elite and the mass of citizens rooted within their respective nation. This book explores the impact of the domineering economic phenomenon on our personal and social liberties.