Some months ago, in a semiserious post, I offered a “Second Law of Strategy” in the form of a dictum that “all profits come from routine innovation.” This second “law”, like the first, was aimed more at consultspeak than economic theory. Inspired by some airplane reading, I lumped Gary Pisano’s quadrant-diagram varieties of innovation into … Continue reading The Tomato was right on Innovation! Is that a Good Thing?
Large among the benefits of my Foreign Affairs subscription are the “Subscriber Exclusives” – downloadable virtual issues that show FA has been attending for years to today’s hot button topics. A “Who Benefits from Trade?” compendium was made available last September. From oldest to newest the contributions range from G.B. Roorbach’s “Foreign Trade or Isolation”, … Continue reading Getting It Right But Still Not Getting It On Trade
Dietrich Vollrath, in a Sgt. Joe Friday throwback, has put up something unusual for the day: a quiet, just-the-research-ma’am post exploring the theorized impact of diversity on economic performance. He provides examples of major studies, summarizes the findings, and points out some ways in which those findings, because of research design, might be suspect. In … Continue reading Playing Smallball on Diversity: Dietrich Vollrath on Fractionalization