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Beating the west at its own game

Commercial success with innovation depends less on the innovations themselves than on the other qualities of a firm. Sony’s use of Bell Labs technology is the classic example.

Looking at cost, not value

Regardless of what something seems to be worth, I should never pay more for something than it would cost me to replace it. On this basis, mobile phone companies look expensive.

Ford puts faith in high prices

Ford’s promise to keep prices high is a curious one, and the way it has been phrased shows that they have failed to understand the principles of credible commitment.