The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World

Book Details

• Author: Amar Bhide

• Brand: Princeton University Press

• Binding: Hardcover

• Number of Pages: 508

• Release Date: 15-09-2008

• Languages: English

• ISBN: 9780691135175

About the Book

In The Venturesome Economy, Amar Bhide challenges the common belief that offshoring research and development (R&D) to China and India threatens Western prosperity. With a wealth of field studies on venture-capital-backed businesses, Bhide offers a refreshing perspective on global technological advancements and their impact on modern economies.

He argues that the offshoring of R&D does not diminish the prosperity of Western nations, but rather enhances it. The key to thriving in the global economy is not simply holding a share of research but fostering "venturesome consumption"—the ability and willingness of businesses and consumers to effectively use products and technologies, regardless of where they originate. This capacity to exploit cutting-edge research is far more critical to success than retaining exclusive control over that research.

Bhide points to the example of Apple's iPod, whose success is heavily dependent on technologies developed abroad. In this book, he shows that breakthroughs in global research contribute to innovation everywhere, and that the venturesome spirit of entrepreneurs, managers, financiers, and consumers is what keeps the U.S. at the forefront of technological advancement.

By emphasizing the importance of adaptability and innovation, The Venturesome Economy offers a compelling argument that as long as the entrepreneurial spirit thrives, the offshoring of research and development is not a threat but an opportunity for prosperity.