Rationale for Offshoring US Corporate R&D
INTRODUCTION: Corporate R&D refers to research and development activities carried out by corporations to enhance and build new products as well as create intellectual property which helps companies remain competitive. The primary goal is to therefore enhance profitability and any scientific breakthrough is a by product or happenstance. The goal [...]
INTRODUCTION:
The Philips Curve gives a relationship between the rate of wage inflation and rate of unemployment. Published way back in 1958 by A.W.H Philips, it is used extensively by economists and policy makers to determine the state of economies as well as make policy decisions. In simple terms the Philips Curve says that the rate [...]
INNOVATION OCCURS WHEN MARKET FORCES ARE ABSENT
Socialist systems have silently been innovating while capitalist systems have been tinkering and taking both credit and profit for these innovations.
Socialist/Capitalist systems refer to a particular sector in the economy, example: the defense sector might have a Socialist system,i.e. it is insulated from market competition although other sectors of [...]
