Audretsch & Thurik: Sources of growth in ME and EE
11 important questions on Audretsch & Thurik: Sources of growth in ME and EE
Purpose of paper of Audretsch & Thurik
- identify differences EE and ME
- suggest a fundamental shift is taking place, from ME to EE
- differences are based on 14 trade-offs
- which are all source of shifting comparative advantage away from capital and labour, towards knowledge based economic activity
The imporance of location and geography in a world dominated by electronic communication seems paradoxal, but
- there is a distinction between knowledge and information
- cost of transmitting information may be invarient to distance
- cost of transmitting knowledge, especially tacit, rises with distance
Competition and co-operation as complements
vs.
Competition and co-operation as substitutes
- substitutes: firms are vertically integrated and compete in product markets
- co-operation between firms reduces number of competitors
- firms are more vertically independed, and specialized
- co-operation among independent firms replaced internal transactions and generates new knowledge and ideas
- but, there is also high competition for new ideas by the very firms that co-operate in create those ideas
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
Targeting inputs vs. Targeting outputs
- relative certainty regarding markets and products, so response policy is to target outcomes and outputs
- based on knowledge, so no longer certain what products should be produced, how they are produces and by whom, so targeting inputs
Risk capital vs. Low-risk capital
- low risk because market is certain
- more venture capital, which is high risk
Local policy vs. National policy
- appropriate locus of policy level is at national level
- source of economic activity is knowledge, which tends to be localized.
- More SE, which are no threat in national markets
Four kinds of flexibility
- technological: emergence of new technologies, as computer controlled machines, facilitate flexibility
- organizational: org. went from mass production to flexible specialization
- demand side: SE have higher marginal production costs then LE, but include lower costs over time as demand fluctuates
- qualitative: ability to respond to qualitative changes in market demands
Jobs and high wages vs. Jobs or high wages
- policy: unemployment could be reduced only at cost of lower wages
- SE generated employment at cost of lower wages
- High employment can be combined with high wages, just as low wages do nog necessarily imply high employment
- SE create both jobs and higher wages
Market exchange vs. firm transaction
- high predictable, so transactions within firms are more efficient
- entry of new firms is important, they provide equilibrating function in market: they resore price and competition
- in uncertain era, market exchange is more efficient
- entry of new firm has different role, more based on new knowledge, less then land, labour and capital
The emergence of EE is a response of 2 fundamental aspects of globalization
- advent of low-cost but high-skilled competion in East Europe and Asia
- Telecommunications revolution, which has greatly reduces the costs of shifting standardized economic activity out of high-cost locations as Europe, to low-cost elsewere
Entrepreneurial Economy (EE)
- newly emerging economy
- deregulation, privatization, labour markey flexibiliy
- advantages arrive from knowledge & innovation
- lose contract with employees
- focus on create environment for success
Try our study magic for free
a PDF, study it super fast
- No sign up, email or credit card needed!
- AI makes unlimited flashcards
- Get unlimited quizzes and tests
- Ask AI anything
- No sign up, email or credit card needed!
- Have and keep perfect overview
- Make flashcards, notes and mind maps
- Review, test and score!
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
