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The Microeconomics of Invention and Innovation

In: Contemporary Economic Issues

Author

Listed:
  • David B. Audretsch

    (Indiana University)

Abstract

When Soviet Premier Nikita Khrushchev banged his shoe on the negotiating table of the United Nations, challenging President John F. Kennedy, ‘We will bury you’, the West was alarmed. At the heart of Khrushchev’s challenge was not necessarily a military threat, but rather an economic one. After all, the Soviets had beaten the Americans in the space race with the launching of the Sputnik just a few years earlier; and perhaps even more disconcerting was the growth in Soviet productivity, which appeared to greatly exceed that in the West during the 1950s.

Suggested Citation

  • David B. Audretsch, 1999. "The Microeconomics of Invention and Innovation," International Economic Association Series, in: Murat R. Sertel (ed.), Contemporary Economic Issues, chapter 9, pages 185-206, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-14540-9_9
    DOI: 10.1007/978-1-349-14540-9_9
    as

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