See Philippe Aghion, Nick Bloom, Richard Blundell, Rachel Griffith, and Peter Howitt (2005), “Competition and Innovation: An Inverted-U Relationship,” Quarterly Journal of Economics, vol. 120 (May), pp. 701– 28. In addition, see the discussion of the literature in Rachel Griffith and John Van Reenen (2021), “Product Market Competition, Creative Destruction and Innovation,” CEPR Discussion Paper No.
DP16763 (Washington: Center for Economic and Policy Research, November). 10 See Ryan Decker, John Haltiwanger, Ron Jarmin, and Javier Miranda (2014), “The Role of Entrepreneurship in U.S. Job Creation and Economic Dynamism,” Journal of Economic Perspectives, vol. 28 (Summer), pp. 3–24. -9employment. If manufacturing were to return to its role as a productivity leader, productivity for the total economy would grow noticeably faster.