These enable either creation of higher value added and/or of lower costs, thus creating a surplus for the companies involved. This surplus is distributed as lower prices to consumers if the right competitive intensity exists in the...
New York when he saw the need for an improved foot-measuring device. He began tinkering with the idea while attending Syracuse University. It is said that he would get up in the middle of the night and work on sketches and calculations. (He was certainly devoted to the cause of foot me...