Apple's changing business model: What should the world's richest company do with all those profits?

Lazonick, William; Mazzucato, Mariana; Tulum, Öner

doi:10.1016/j.accfor.2013.07.002

Cited by 51 publications

(22 citation statements)

References 13 publications

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“…The dominant controlling power of big business at the mature stage can completely control open social innovation, or open market innovation, and lead to a decrease in the growth rate of any NIS if the government does not control the dominant power of big business-for example, by not penalizing or charging big business for high internal reserves [18]. For example, Apple, the world's richest company and the dominant power in the smart phone sector, went from value creation to value extraction by buying back shares, along with several other methods for maximizing shareholder value [5,19]. Second, high inequality between the rich and the poor, which is continuously increasing, is another growth limit of capitalism, because the decrease in consumption by the major poor class will diminish the effective demand in the market [3].…”

Section: Growth Limits Of Capitalismmentioning

confidence: 99%

“…The financial requirement of open social innovation, or start-ups in open market innovation, may be modest. However, the scaling of an enterprise whose business model shows signs of success requires large infusions of cash to enable it to cross what has come to be called "the value of death" [19]. That is, the motivation of capital fluidity in addition to the introduction of basic income is required to maximize open innovation and new combination.…”

Section: High Capital Fluidity For Motivating Not Financialization Bumentioning

confidence: 99%

See 1 more Smart Citation

Basic Income with High Open Innovation Dynamics: The Way to the Entrepreneurial State

Yun

Park

Hahm³

et al. 2019

Journal of Open Innovation: Technology, Market, and Complexity

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Currently, the world economy is approaching a near-zero growth rate. Governments should move from a market-failure-oriented to a system-failure-oriented approach to understanding this problem, and transform to an entrepreneurial state to motivate the Schumpeterian dynamics of open innovation. We want to answer the following research question in this study: “How can a government enact policies to conquer the growth limits imposed on the economy by inequality or the control of big businesses?” First, we conducted a literature review to establish the concept of building a causal loop model of basic income with open innovation dynamics. Second, we built a causal loop model which includes basic income and all factors of open innovation dynamics. Third, we proved our causal loop model through a meta-analysis of global cases of basic income. Our research indicates that reflective basic income with permissionless open innovation, capital fluidity, a sharing economy, and a platform tax can motivate open innovation dynamics and arrive at a method by which an entrepreneurial state can conquer the growth limits of capitalism.

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Section: Growth Limits Of Capitalismmentioning

confidence: 99%

Section: High Capital Fluidity For Motivating Not Financialization Bumentioning

confidence: 99%

Basic Income with High Open Innovation Dynamics: The Way to the Entrepreneurial State

Yun

Park

Hahm³

et al. 2019

Journal of Open Innovation: Technology, Market, and Complexity

View full text Add to dashboard Cite

show abstract

“…Apple has adopted an "unconventional" strategy that allows it to achieve "supernormal profits"in a hyper-competitive sector. Yet, Lazonick et al (2013) point out that Apple's legendary ability to innovate, contrary to belief, is not sustainable. Referring to the concept of "innovative enterprise", the authors suggest that the evolution of an innovative company is defined by a set of three conditions: 1) strategic control; 2) organizational integration; 3) the financial commitment to innovation (p. 253).…”

Section: In the Report How The Iphone Widens The United States Trade mentioning

confidence: 99%

Beyond NAFTA with Three Countries: The Impact of Global Value Chains on an Outdated Trade Agreement

Rioux¹,

Arès²,

Huang³

2015

OJPS

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This article shows how the North American Free Trade Agreement (NAFTA) is significantly affected by the redeployment of transpacific specialized value chains and production networks. More specifically, our study looks at the repositioning of NAFTA partners with new transnational production networks which point to the need for new trading schemes redeploying regional strategies on the transpacific axis. We used the ICT sector as an empirical case showing how China had become a key partner for the three NAFTA partners. This suggests changes in the process of regional economic integration/disintegration. Yet, a closer look at the global value chain of Apple indicates that US enterprises play a pivotal role in this transformation. Our findings point to the fact that the regional integration is significantly affected by emerging transpacific production networks linking the NAFTA regional trade pact to a new transpacific economic space. This can help explain the importance for the three countries to negotiate transpacific trade agreements like the Transpacific Trade Partnership which can be viewed as a de facto renegotiation of NAFTA, 20 years after its emergence as a regional trading model.

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“…Soon, the bandwagon effect can become global as more people want to believe in something, regardless of whether there is underlying objective validity [37], and they are drawn in by a growing fear of missing out (FoMO) [38]. In this way, a reality distortion field can spread around the world from one initial location [39].…”

Section: Theoretical Versus Atheoretical Framing Of Ai Developmentmentioning

confidence: 99%

Beyond AI: Multi-Intelligence (MI) Combining Natural and Artificial Intelligences in Hybrid Beings and Systems

Fox

2017

Technologies

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Framing strongly influences actions among technology proponents and end-users. Underlying much debate about artificial intelligence (AI) are several fundamental shortcomings in its framing. First, discussion of AI is atheoretical, and therefore has limited potential for addressing the complexity of causation. Second, intelligence is considered from an anthropocentric perspective that sees human intelligence, and intelligence developed by humans, as superior to all other intelligences. Thus, the extensive post-anthropocentric research into intelligence is not given sufficient consideration. Third, AI is discussed often in reductionist mechanistic terms. Rather than in organicist emergentist terms as a contributor to multi-intelligence (MI) hybrid beings and/or systems. Thus, current framing of AI can be a self-validating reduction within which AI development is focused upon AI becoming the single-variable mechanism causing future effects. In this paper, AI is reframed as a contributor to MI.

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Apple's changing business model: What should the world's richest company do with all those profits?

Cited by 51 publications

References 13 publications

Basic Income with High Open Innovation Dynamics: The Way to the Entrepreneurial State

Basic Income with High Open Innovation Dynamics: The Way to the Entrepreneurial State

Beyond NAFTA with Three Countries: The Impact of Global Value Chains on an Outdated Trade Agreement

Beyond AI: Multi-Intelligence (MI) Combining Natural and Artificial Intelligences in Hybrid Beings and Systems

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