Of course, they could not have succeeded without possessing those qualities. The justification for companies scooping the rewards of public investment in innovation while minimising their contribution to it, is that they maximise returns to shareholders.
Meanwhile, the United Kingdom has lost opportunities to fish in some more-distant waters e. Payments to shareholders went through the roof.
Jan Rivkin and Michael Porter have stated that competitiveness means not only competing successfully in the global economy, but also sustaining high and rising living standards for the average citizen.
Looking at the evidence for the UK economy, it is clear there are some industries that are suffering from very low inflation or indeed deflation.
Within this area, service transactions have grown rapidly, and financial services have grown the fastest. Putting this a different way: the risks and rewards applying to the different economic actors in the innovation process are out of sync. Despite its monumental margins, Apple has only just started to create manufacturing jobs in the US and has attracted criticism for working conditions at its manufacturing supply plants in China.
A market such as electrical goods retailing has suffered from deflation for several years, impacting the profits of all major retailers.