Schumpeterian profits in the American economy
theory and measurement
by William D. Nordhaus
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"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.
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Schumpeterian profits in the American economy: theory and measurement
2004, National Bureau of Economic Research
Electronic resource
in English
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Edition 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.
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