How do you benefit from others' innovations?

The Estonia Piano Company is one of Estonia's most remarkable success stories. Under communist rule, the company built pianos exclusively for the Soviet Union. There was no competition, no incentive to improve. The instruments were sturdy, but hardly world-class. After independence, the company had to quickly adapt, or fail in the face of competition from around the world. Through entrepreneurship and innovation, the Estonia Piano Company reinvented itself, and now produces pianos for the world market that rival Steinway in quality—at about half the price. For workers as well as consumers, Estonia has shown the world that freedom works!