Lamoreaux and Sokoloff’s Financing Innovation in the United States

18 July 2009 at 9:25 am Leave a comment

| Peter Klein |

Nice EH.Net review by Charles Calomiris of Naomi Lamoreaux and Sokoloff’s edited volume Financing Innovation in the United States: 1870 to the Present (MIT Press, 2007).

Anyone interested in the organization of innovation, and the nexus between finance and the organization and process of innovation, must read this book. All of the chapters are original, scholarly, and packed with insightful gems (truly a font of inspiration for Ph.D. students), and the analysis manages to be both sophisticated (theoretically and statistically) and accessible to a broad audience.  While the volume is too rich to boil down to a single theme, the editors’ introduction does point to a common thread that runs through many of the essays: “… perhaps the most striking aspect of the record of innovation over American economic history is the flexibility that technologically creative entrepreneurs have exhibited in adjusting their business and career plans so as to obtain financing for, and extract returns from, their projects.”

Entry filed under: - Klein -, Business/Economic History, Financial Markets, Innovation.

Goldman Sachs, Best in the Business The Five-Minute University

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