--The economic changes new technology has set in motion are more interesting and important than the technology per se. --The technology makes possible new forms of employment, new approaches to compensation, and new ways of launching enterprises--what is often referred to as a Silicon Valley System --Note that this "Silicon Valley System" spreads across the country and the world, with nodes in Boston, Austin, Helsinki, Singapore, and elsewhere. --Leading-edge users and their innovative applications have …showed first 75 words of 1262 total…

…showed last 75 words of 1262 total…Producers lowered their costs by concentrating on what they did best, and contracting to buy the rest from those with a firm-specific advantage in productivity or a nation-specific factor cost-based comparative advantage. --The production dilemma has been solved via a finer division of labor--contract manufacturing and cross-national production systems. --Firms can outsource only because of better communications. In previous generations much tacit knowledge gained only through long experience was essential to creating the value chain.