In the half century since World War II, U.S. companies have lost their dominant position in virtually every major industry. While some loss of market power was inevitable as other economies rebuilt and reached their own potential, today there is widespread concern that the U.S. has lost its competitive edge in technology and manufacturing. Among those who believe a problem exists, the most frequently cited cause of corporate America's lack of competitiveness is its failure to invest.
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Baldwin et al. (1992) studied this question.
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