Regulation, Market Prices, And Process Innovation

This book examines the effects of environmental and workplace regulations on business innovation through the study of innovation in processes for the production of synthetic ammonia. It presents a history of ammonia production in the U.S., a survey of government regulation in the industry.

Through the study of innovation in processes for the production of synthetic ammonia, the authors examine the effects of environmental and workplace regulations on business innovation in general. They present a history of ammonia production in the U.S., a survey of government regulation in the industry, and a model of process innovation that combines the economist''s production function with the technical and practical concepts of the engineer. Contrary to the widely held view that regulation has an unfortunate impact on business, the authors demonstrate thatat least in one industrythe economic factors of production have a measurable impact on innovation, while regulation does not.

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