Chat with AI
Macroeconomics 8th Edition by David Colander
Edition 8ISBN: 978-0077398088Macroeconomics 8th Edition by David Colander
Edition 8ISBN: 978-0077398088 Exercise 3
One of the specific problems socialist economies had was keeping up with capitalist countries technologically.
a.Can you think of any reason inherent in acentrally planned economy that would make innovation difficult?
b.Can you think of any reason inherent in a capitalist country that would foster innovation?
c.Joseph Scbumperer, a famous Harvard economist of the 1930s, predicted that as firms in capitalist societies grew in size, they would innovate less. Can you suggest what his argument might have been?
d.Schumperer's prediction did not come true. Modem capitalist economies have had enormous innovations. Can you provide explanations as to why?
a.Can you think of any reason inherent in acentrally planned economy that would make innovation difficult?
b.Can you think of any reason inherent in a capitalist country that would foster innovation?
c.Joseph Scbumperer, a famous Harvard economist of the 1930s, predicted that as firms in capitalist societies grew in size, they would innovate less. Can you suggest what his argument might have been?
d.Schumperer's prediction did not come true. Modem capitalist economies have had enormous innovations. Can you provide explanations as to why?
Explanation
Verified
Verified
(a) In a centrally planned economy marke...
Macroeconomics 8th Edition by David Colander
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
