Regulation, Market Prices, And Process Innovation

Download or read book Regulation, Market Prices, And Process Innovation written by Edward Greenberg and published by Routledge. This book was released on 2019-07-16 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the study of innovation in processes for the production of synthetic ammonia, the authors examine the effects of environmental and workplace regulations on business innovation in general. They present a history of ammonia production in the U.S., a survey of government regulation in the industry, and a model of process innovation that combines the economist's production function with the technical and practical concepts of the engineer. Contrary to the widely held view that regulation has an unfortunate impact on business, the authors demonstrate that—at least in one industry—the economic factors of production have a measurable impact on innovation, while regulation does not.