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The Economic and Legal Foundations of Managing Innovative Development in Modern Economic Systems

The Economic and Legal Foundations of Managing Innovative Development in Modern Economic Systems

Hardcover

Series: Interdisciplinary Thought of the 21st Century, Book 2

Business GeneralEconomicsManagement

ISBN10: 3110639750
ISBN13: 9783110639759
Publisher: de Gruyter Oldenbourg
Published: Oct 26 2020
Pages: 222
Weight: 1.23
Height: 0.56 Width: 6.69 Depth: 9.61
Language: English

Innovation is of critical value in the modern global economy, as it performs several important economic functions. The first is related to supporting the sustainability of socio-economic systems, preventing the emergence of crises and, if they do occur, providing solutions to overcome their consequences. Secondly, innovation allows for the activation of economic growth and social progress through the rationalization of economic activities. Thirdly, innovation supports the global competitiveness of economic systems, allowing for the specialization of production and sales of unique goods that are in high demand in both domestic and global markets.

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Economics