Scheme of the "competitive diamond" by M. Porter

The country will receive super-profits, or “technological rents”, until other countries copy its innovations. Posner’s model suggests that once an innovation has been copied, there is no point in trading it on the foreign market. In order to constantly trade in any product, it is necessary to ensure a “flow of innovations” in its production. […]

National wealth: essence, structure and growth factors

National wealth is one of the most important indicators of the country’s economic development, which represents the monetary expression of the totality of use values accumulated by society throughout its history as of a certain date. For the first time, national wealth was calculated by the English economist W. Petty in 1664, in France it […]