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.
First published in 2008.Amar Bhidé is the Thomas Schmidheiny Professor at the Fletcher School of Law and Diplomacy, Tufts University, editor of Capitalism and Society, member of the Council on Foreign Relations, and the author of The Origin and Evolution of New Businesses. A former McKinsey & Company consultant, Bhidé was educated at the Indian Institute of Technology and Harvard Business School, where he graduated as a Baker Scholar and later served as an associate professor.
More about this book
- Winner of the 2009 Silver Medal Book Award in International Business/Globalization, Jenkins Group, Inc., Axiom Business
- Winner of the 2008 PROSE Award in Business, Finance, and Management, Association of American Publishers
- One of Economist's Best Books for 2008
- One of BusinessWeek's Best Innovation and Design Books for 2008
Table of Contents
Book 1: Cautious Voyagers Why VC-Backed Businesses Still Favor Home 31
1. VCs in New Ventureland 41
2. Advancing the Frontier: The Nature of Mid-level Innovation 59
3. Marketing: Edging into International Arenas 101
4. Offshoring: The Ins and Outs 152
5. Founders and Staff: Global at Home 206
6. On Methods and Models 239
Book 2: Embrace or Resist? 251
7. Alarmist Arguments 257
8. The Reassuring Realities of Modern Cross-Border Flows 272
9. Valuable Differences 287
10. Serving the Service Economy 296
11. Venturesome Consumption 308
12. Winning by Using 324
13. Nondestructive Creation 341
14. Immigrants: Uppers or Downers? 356
15. The Elusive Underpinnings 380
16. First Do No Harm 411
Other Books Written by this Author(s)
- Amar Bhidé
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