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Europe’s Losses of Innovation: The Individual as well as Societal Harms

Phelps, Edmund S.

Estimates presented here reveal large losses in indigenous innovation among several European nations that were relatively dynamic. My thesis is that the large losses – and the narrowing of the scope for innovating – have serious ill-effects on society and acute ill-effects on a wide range of individuals.

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Center on Capitalism and Society
Center on Capitalism and Society, Columbia University
Center on Capitalism and Society Working Papers, 89
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September 19, 2017