Schumpeterian profits in the American economy
Subtitle: theory and measurement
By: William D. Nordhaus.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10433; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10433.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Profits -- United States -- History.
Description: "The present study examines the importance of Schumpeterian profits in the United States economy.  Schumpeterian profits are defined as those profits that arise when firms are able to appropriate the returns from innovative activity.  We first show the underlying equations for Schumpeterian profits.  We then estimate the value of these profits for the non-farm business economy.  We conclude that only a miniscule fraction of the social returns from technological advances over the 1948-2001 period was captured by producers, indicating that most of the benefits of technological change are passed on to consumers rather than captured by producers"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/13/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.