Commissioned Papers (1983) / Chapter Skim
Currently Skimming:
Pages 337-357
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 337... ...
PICKING WINNERS: WHO WINS? William Nordhaus Yale University Paper prepared for National Academy of Sciences Panel on Advanced Technology Competitition and the Industrialized Allied February 9, 1982 COPYRIGHT 1982 NATIONAL ACADEMY OF SCIENCES
|
From page 339... ...
Picking Winners: Who Wins? Although the United States espouses a free market philosophy, and even occasionally adheres to its philosophy, a non-interventionist stance is even rarer among our trading partners.
|
From page 341... ...
arose were less severe than the political failures. Similarly, the indirect regulation of telecommmications equipment, because it was part -- of a larger regulated company, undoubtedly stiffled competitive pressures.
|
From page 343... ...
Thus the winning strategy often involves both subsidy and a domestic protection. The mix differs as to the economic importance of (a)
|
From page 345... ...
A final reason why picking winners may be beneficial is that it is probably pro-competitive in a profound sense. To the extent that subsidies generate new technologies or new loci of activity, they increase pressure on established market power.
|
From page 347... ...
II. Lessons from Telecommunications !
|
From page 349... ...
Table l. R&D INTENSITIES OF MAJOR TELEPHONY FIRMS, 1977 ~~ ©O 0 O @ a 0 1 u i d w h kX 5 0 bs f e ge e Ui m w Ad =o O e fs ps O w @ a 3 Ov Company- Funded Manufacturing R&D Company R&D Sales Intensit oo -- -- - =-(§ Millions)
|
From page 351... ...
Telephony patents) and their R&D intensity.
|
From page 353... ...
eventually produced a product. The second was a complete fiasco and was finally stopped after more than 1 billion DM was spent.
|
From page 355... ...
III. Thoughts on Multilateral Efforts in High Technology Industries The foregoing set of thoughts on picking winners leads fairly naturally to some conclusions on the appropriate set of institutional changes in this area.
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.