The Venturesome Economy – How Innovation Sustains Prosperity in a More Connected World

"If I were asked to recommend to the next president just one book on the trajectory of the U.S. economy in the next several years, it would unhesitatingly be Amar Bhidé's The Venturesome Economy. The book is an utterly original interpretation of the nature of the complex process of innovation. Among other things, it makes a mockery of the simplistic, alarmist writings that have become so popular in these troublesome economic times. As a student myself of the lovely, kinky history of real innovation, I almost found myself audibly cheering as I raced through this seminal text."--Thomas J. Peters, coauthor of In Search of Excellence: Lessons from America's Best-Run Companies

"Amar Bhidé provides a fresh and reassuring perspective on America's technological position in an increasingly global economy. Anyone interested in our economic future and especially our technology policies should read this book."--Lawrence Summers, Harvard University

"The strides made by China and India, notably their unexpected technological advances, have made America anxious, prompting calls to double federal spending on basic research. In The Venturesome Economy, Amar Bhidé draws on his unmatched knowledge of the mechanisms of innovation to show the benefits to us of Asia's advances and the errors in the techno-fetishism that grips Washington officialdom. This book deepens radically our understanding of how the global economy functions."--Edmund Phelps, 2006 Nobel Laureate in Economics

"In The Venturesome Economy, Amar Bhidé takes on the increasingly noisy chorus of critics worried about the effects of globalization on the national economy. He demonstrates that the application and commercialization of technology is far more important than whether the underlying science originated at home or abroad. The winners will be those countries and businesses that have the insight and energy to apply innovations effectively. This is an optimistic and important message."--Donald J. Gogel, president and CEO of Clayton, Dubilier & Rice

"A book full of solid if unconventional deductions, all based on extensive observations. Amar Bhidé is an author who knows whereof he speaks and to whom one should listen."--William J. Baumol, author of The Free-Market Innovation Machine