Abstract
Abstract The extent to which, and the manner in which, innovation occurs in an economy depends on decisions about the allocation of resources; that is, on investment decisions or strategies. In particular, an economy’s capacity to achieve sustainable prosperity—by which I mean a progressive spreading of the benefits of economic growth to more and more people over a prolonged period of time—is closely related to the process through which corporate revenues are allocated. Corporate strategists control substantial financial and productive resources that permit them to make strategic choices in the allocation of resources. Retained earnings—undistributed profits and capital consumption allowances—have always provided, and continue to provide, the financial resources that are the foundation of investments in productive capabilities that can make innovation and economic development possible. The strategic choices of corporate decision-makers can thus have profound effects on the availability and viability of stable and remunerative employment opportunities. To understand what has happened and what will happen to employment opportunities and income levels, we have to understand strategic decision-making within major corporations, and how and why that process changes over time.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
