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Miscellaneous
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| Number of pages / Number of words: |
27 / 7320 |
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Silicon Valley and Hollywood may be the world's best-known clusters. Clusters are not unique, however; they are highly typical-and therein lies a paradox: the enduring competitive advantages in a global economy lie increasingly in local things -knowledge, relationships, motivation- that distant rivals cannot match...
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In an era when competition was driven heavily by input costs, locations with some important endowment-a natural harbor, for example, or a supply of cheap labor-often enjoyed a comparative advantage that was both competitively decisive and persistent over time.
Competition in today's economy is far more dynamic...
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