Beyond Schumpeter vs. Arrow: How Antitrust Fosters Innovation

  title={Beyond Schumpeter vs. Arrow: How Antitrust Fosters Innovation},
  author={J. Baker},
  journal={Antitrust: Antitrust Law & Policy},
  • J. Baker
  • Published 2007
  • Economics
  • Antitrust: Antitrust Law & Policy
The relationship between competition and innovation is the subject of a familiar controversy in economics, between the Schumpeterian view that monopolies favor innovation and the opposite view, often associated with Kenneth Arrow, that competition favors innovation. Taking their cue from this debate, some commentators reserve judgment as to whether antitrust enforcement is good for innovation. Such misgivings are unnecessary. The modern economic learning about the connection between competition… Expand
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