From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Fri Apr 27 2007 - 18:55:35 EDT
Gerry: The history you recount in the PC industry is in many ways fairly typical of the evolution from a branch of production in its infancy (when there are often small innovating firms, which tend to exit the market or merge with another capital later) to a "mature" market dominated by large corporations. This transition, which is commonplace in many branches of production, has implications for changes in the "price channel". Paul I agree, the same thing could be seen in car production at the start of the 20th century. In the case of some other key innovations though, like Television there was considerable less initial diversity. I think that the technological obstacles to the development of TV were probably relatively higher than those facing the personal computer industry. Thus Baird appart, the TV innovations came from relatively well established companies.
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