申論題

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2. Efficiency and Technical Progress

The famous economist Joseph Schumpeter is usually credited with the view that some monopoly must be tolerated to obtain progressiveness. According to Schumpeter:

But in capitalist reality as distinguished from its textbook picture, it is not [perfect] competition which counts, but the competition from the new commodity, the new technology, the new source of supply, the new type of organization...---competition which strikes not at the margins of the profits and the outputs of the existing firms but at their foundations and their very lives.

Before turning to a rivalry model that provides some insight into these issues, it maybe helpful to explain several terms that will be used in our discussions. At the beginning there is basic research, which seeks knowledge for its own sake. Most industrial firms engage in applied research, which is directed toward a particular product or process. If successful, invention takes place, which is the discovery of new knowledge. After invention, development must take place, leading to the commercial application of the invention, or innovation. The last phase of technical change is the diffusion of the product or process throughout the industry, or economy.

[Adopted from _Economics of Regulation and Antitrust_ by W. Kip Viscusi,
John M. Vernon and Joseph E. Harrington, Jr. .]