Episode Details

English Podcast starts at 00:00:00

Bengali Podcast Starts at 00:15:22

Hindi Podcast Starts at 00:31:40

German Podcast Starts at 00:45:48

Reference

P. A. GEROSKI, INNOVATION, TECHNOLOGICAL OPPORTUNITY, AND MARKET STRUCTURE, Oxford Economic Papers, Volume 42, Issue 3, July 1990, Pages 586–602, https://doi.org/10.1093/oxfordjournals.oep.a041965

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Hey everyone, welcome to Revise and Resubmit! 🎙️ This is your host kicking off another electrifying Weekend Classics episode, where we dust off timeless papers that still pack a punch in today's wild world of innovation and markets. 🚀

Picture this: the 1970s UK, industries buzzing with big breakthroughs, and one economist, P.A. Geroski, drops a bombshell in Oxford Economic Papers – an ABDC-A listed powerhouse from Oxford University Press, July 1990. 📜✨ His paper, "INNOVATION, TECHNOLOGICAL OPPORTUNITY, AND MARKET STRUCTURE", tackles the Schumpeterian myth head-on: does monopoly juice up innovation, or is it just hot air? 🔥 Geroski crunches cross-section data from 73 industries, slicing apart direct and indirect monopoly effects, and boom – he controls for technological opportunity with fixed effects like a boss. The verdict? Competition turbocharges innovativeness, not fat-cat monopolies! Tech opportunity drives 60% of the action, nuking biased old studies. 💥

Fast-forward to space financing today: this gem screams "ditch national champions" and bets big on new entrants and rivalry to unlock cosmic potential. Small fry innovate harder than comfy incumbents, even if monopolies hoard cash for R&D. 🌌 Who's ready to rethink how we fund the stars?

Thanks, P.A. Geroski and Oxford University Press, for this enduring rocket fuel! 🙌 Hit subscribe on our podcast channel right here on Spotify, YouTube's Weekend Researcher, Amazon Prime Music, and Apple Podcasts. Let's keep the classics alive! 🎧🔥