A History of Technology. Volume VI, The Twentieth Century, by Trevor I. Williams

By Trevor I. Williams

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High launching costs mean that levels of concentration, research intensity seems to fall. T h u s the oligopolistic few producers can earn a profit in a given market, while high and rising costs industries, where the market is dominated by a few companies, seem to be make it likely that some firms will go out of business if their products fail. those likely to spend most on research; but there is no evidence that this Concentration in the industry will therefore rise, as has happened most expenditure is matched by higher innovative output in such industries.

American Economic Review, 59, 386 (1969). [19] G albraith, J. K . American capitalism. Hamish Hamilton, London (1956). [20] Caudle, P. G . The management of innovation and the maintenance of productive effi­ ciency. In B o W E, C. , London (1977). [21] M ansfield, E. Industrial research and technological innovation— an econometric analysis. Norton, New York, for the Cowles Foundation for Research in Economics at Yale University (1968). [22] Freeman, C. The economics o f industrial innovation. Penguin, Harmondsworth (1974).

Division of Research, Graduate School of Business Administration, Harvard University. Cam­ bridge, Mass. (1950). Enos, J. L. Petroleum progress and profits, p. 225. T . Press, Cambridge, Mass. (1962). E nos, J. L. op. cit. [2], p. 229. L angrish, j . et al. Wealth from knowledge. Macmillan, London (1972). S. Senate, Eighty-ninth Congress. Part 3, p. 1207. Evidence of D. Schon. , and S tillerman, R. The sources o f invention. ) Macmillan, London (1968). Hamberc, D. Research and development. Random House, New York (1966).

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