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The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism
Why has capitalism produced economic growth that so vastly dwarfs the growth record of other economic systems, past and present? Why have living standards in countries from America to Germany to Japan risen exponentially over the past century? William Baumol rejects the conventional view that capitalism benefits society through price competition--that is, products and serv...more
Paperback, 336 pages
Published April 11th 2004 by Princeton University Press
(first published April 1st 2002)
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