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Extraction Summary
5
People
3
Organizations
1
Locations
0
Events
1
Relationships
4
Quotes
Document Information
Type:
Book excerpt / report page (evidence exhibit)
File Size:
Summary
This document appears to be a page (p. 159) from a book or detailed report submitted as evidence to the House Oversight Committee (Bates stamp 018391). The text discusses economic theory, contrasting the 'diminishing returns' of traditional industrial markets (citing Henry Ford and auto manufacturing) with the 'increasing returns' and 'winner takes all' dynamics of the information age and software markets. It heavily quotes economist Brian Arthur's 1996 Harvard Business Review article on the subject.
People (5)
| Name | Role | Context |
|---|---|---|
| Brian Arthur | Economist |
Quoted regarding 'Increasing Returns' and the nature of markets in the information age.
|
| Alfred Marshall | Economist |
Historical figure mentioned as establishing the concept of 'diminishing returns' in the 1890s.
|
| Henry Ford | Industrialist |
Used as an example of traditional business models and diminishing returns.
|
| Dodge brothers | Industrialists |
Competitors who entered the auto market, reducing Ford's monopoly.
|
| Walter Chrysler | Industrialist |
Competitor who entered the auto market.
|
Organizations (3)
| Name | Type | Context |
|---|---|---|
| Harvard Business Review |
Publication where Brian Arthur's 1996 article appeared.
|
|
| Microsoft |
Mentioned in the context of 'Microsoft Word' as an example of network effects/increasing returns.
|
|
| House Oversight Committee |
Implied by the footer 'HOUSE_OVERSIGHT_018391'.
|
Locations (1)
| Location | Context |
|---|---|
|
Historical reference used metaphorically regarding gates and defenses.
|
Relationships (1)
Brian Arthur wrote in the Harvard Business Review in the summer of 1996.
Key Quotes (4)
"I'm on the topology now, where are the gates."Source
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Quote #1
""Our understanding of how markets and businesses operate was passed down to us more than a century ago by figures such as Alfred Marshall," the economist Brian Arthur wrote"Source
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Quote #2
""Increasing returns," Arthur explained, "are the tendency for that which is ahead to get farther ahead.""Source
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Quote #3
"In other words: Winner takes all. No second place."Source
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Quote #4
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