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This book provides an account of work in the Schumpeterian and evolutionary tradition of industrial dynamics and the evolution of industries. It is shown that over time industries evolve and change their structure. In this dynamic process, change is affected and sometimes constraint by many factors, including knowledge and technologies, the capabilities and incentives of actors, new products and processes, and institutions.
The key message of this book is that heterogeneity should be seen as an intrinsic and indispensable element of knowledge systems. The authors address the concept of heterogeneity in a multi-disciplinary fashion, including perspectives from evolutionary economics and innovation system studies, and relate this approach to existing theories in a broad range of fields. The book postulates that one approach to such a re-conceptualization is what we call the Mode 3 system consisting of Innovation Networks and Knowledge Clusters for knowledge creation, diffusion and use. This is a multi-layered, multi-modal, multi-nodal and multi-lateral system, encompassing mutually and complementary reinforcing innovation networks and knowledge clusters consisting of human and intellectual capital, shaped by social capital and underpinned by financial capital. Diversity in the Knowledge Economy and Society will appeal to academics and researchers of innovation and science, knowledge management and economics.
If evolutionary economics is to compete with neoclassical economics as a general-purpose economic theory, it needs to incorporate new aspects of socioeconomic reality, such as institutions of all types, including technical, scientific, and political. Furthermore, evolutionary economics needs to be able to provide policy implications at least as interesting as those of neoclassical economics. Thus, as this book argues, evolutionary economics must become evolutionary political economy. Innovation plays a central role in the book, but not in the sense of providing a technologically determinist interpretation. Rather, the book argues that innovations do not emerge in isolation from other components of socioeconomic systems but coevolve with institutions, infrastructures and organizational forms. This concept of coevolution is absolutely central in the book and provides a link with theories of complexity. In addition to providing an epistemological basis for evolutionary economics, the link with complexity and coevolution offers the connection with evolutionary political economy. Innovations and technologies do not emerge and develop in an institutional vacuum, but interact with existing institutions and reshape them, in addition to inducing the formation of new institutions. In this process, technologies and institutions reinforce each other providing a potential mechanism to transform socioeconomic systems. The book also explores the policy implications of these innovative societies, where wealth is created but unequally distributed. The book is addressed to open-minded economists, social scientists who are dissatisfied with the approach of neoclassical economics, technologists and policy makers.
This book provides a better understanding of how intellectual property can improve economic and business performance. It focuses on three particular issues: the valuation of patents, the transfer of knowledge, and the management of innovation and intellectual property. Scholars from leading worldwide institutions use quantitative methods and advanced survey techniques to explore the complex relationship between patents, innovation, venture capital and scientific research. The book focuses on three broad issues: the valuation of patents, the transfer of knowledge, and the management of innovation and intellectual property.
The design and construction of buildings is a lengthy and expensive process, and those who commission buildings are continually looking for ways to improve the efficiency of the process. In this book, the second in the Building in Value series, a broad range of topics related to the processes of design and construction are explored by an international group of experts. The overall aim of the book is to look at ways that clients can improve the value for money outcomes of their decisions to construct buildings. The book is aimed at students studying in many areas related to the construction industry including architecture, construction management, civil engineering and quantity surveying, and should also be of interest to many in the industry including project managers, property developers, building contractors and cost engineers.
Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competitiveness, catching up, and structural change in both advanced and developing countries. It has also been one of the most contested perspectives, reflecting ideologically inflected debates and shifts in prevailing ideas. There has lately been a renewed interest in industrial policy in academic circles and international policy dialogues, prompted by the weak outcomes of policies pursued by many developing countries under the direction of the Washington Consensus (and its descendants), the slow economic recovery of many advanced economies after the 2008 global financial crisis, and mounting anxieties about the national consequences of globalization. The Oxford Handbook of Industrial Policy presents a comprehensive review of and a novel approach to the conceptual and theoretical foundations of industrial policy. The Handbook also presents analytical perspectives on how industrial policy connects to broader issues of development strategy, macro-economic policies, infrastructure development, human capital, and political economy. By combining historical and theoretical perspectives, and integrating conceptual issues with empirical evidence drawn from advanced, emerging, and developing countries, The Handbook offers valuable lessons and policy insights to policymakers, practitioners and researchers on developing productive transformation, technological capabilities, and international competitiveness. It addresses pressing issues including climate change, the gendered dimensions of industrial policy, global governance, and technical change. Written by leading international thinkers on the subject, the volume pulls together different perspectives and schools of thought from neo-classical to structuralist development economists to discuss and highlight the adaptation of industrial policy in an ever-changing socio-economic and political landscape.
Economists since the First Industrial Revolution have been interested in the links between economic growth and resources, often pointing to resource scarcities as a hindrance to growth. Offering a counter perspective, this volume highlights the positive role that scarcities can play in inducing technical progress and economic growth. It outlines a structural framework for the political economy of scarcity and rents, and offers a novel way of organizing the evidence concerning the role of resources in industrial growth. This book proposes a major shift in the treatment of scarcity issues by focusing on bottlenecks and opportunities arising within the production system, and will appeal to economists and policy makers interested in the role of resources as triggers of structural change.
This book provides a new paradigm of economics that is called Qualitative Economics. The authors take an approach to economics that is entirely different from the established neo-classical economics paradigm. Arguing that the basis of neo-classical economic theory with its focus on perfect information in a balanced equilibrium system of supply and demand is fundamentally flawed, the authors propose an inclusive philosophical and scientific perspective to explain economic structures and activities and how best to understand the dynamics of economics. Furthermore, the authors argue that a qualitative approach allows for greater understanding of not only the actors, actions and situations in economics, but also defines the context in which the more traditional quantitative and statistical methods are applied. The book includes case studies to further illustrate the applications of qualitative economics. Challenging orthodox paradigms and schools of economic thought, the book proposes a new way of looking at economics, and as such will be of use to researchers and students of economics, business, social sciences and the sciences as well as think tanks and advocacy groups interested in heterodox economics.
Innovation is almost always seen as a "good thing". Challenging the Innovation Paradigm is a critical analysis of the innovation frenzy and contemporary innovation research. The one-sided focus on desirable effects of innovation misses many opportunities to reduce the undesirable consequences. Authors in this book show how systemic effects outside the innovating firms reduce the net benefits of innovation for individual employees, customers, as well as for society as a whole - also the innovators' own organizations. This book analyzes the dominant discourses that construct and reconstruct the assumptions and one-sidedness of contemporary innovation research (generally known as the pro-innovation bias) by focusing on consequences of innovation, distinguishing between intended and unintended as well as desirable and undesirable consequences. Contributors illustrate how both the discourses of innovation and the consequences of innovation permeate all levels of society: in policy discourse, in academic discourse, in research funding, in national innovation systems, in the financial sector, in organizational and work contexts, and in environmental pollution. The volume offers a critical, multidisciplinary, and multinational perspective on the topic, with authors from diverse academic fields examining and making comparisons between a variety of national contexts.
This issue of the STI Review focuses on the new rationale and approaches in technology and innovation policy.