China is the world’s factory, they say. Now many worry that the time has come for the country to conquer the world of science and become the world’s laboratory. This is wrong, says Amar Bhidé. In The Venturesome Economy – How Innovation Sustains Prosperity in a More Connected World, he presents his evidence. He argues that what matters is that countries have the ability to exploit new knowledge. Where the knowledge is produced is irrelevant. One way to capture knowledge is through what Bhidé calls ‘venturesome consumption’. This can be translated as “risk-taking consumption”: individuals and companies adopting new technologies and innovations at an early stage. The book’s conclusions are based in part on interviews with venture capital-backed companies in the United States.
Disseminates research on innovation, entrepreneurship and small business.