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A unique insight into the interaction between the state, financiers and entrepreneurs in the modern innovation economy.
This important book delivers a critical wake-up call: a fierce global race for innovation advantage is under way, and while other nations are making support for technology and innovation a central tenet of their economic strategies and policies, America lacks a robust innovation policy. What does this portend? Robert Atkinson and Stephen Ezell, widely respected economic thinkers, report on profound new forces that are shaping the global economy—forces that favor nations with innovation-based economies and innovation policies. Unless the United States enacts public policies to reflect this reality, Americans face the relatively lower standards of living associated with a noncompetitive national economy.The authors explore how a weak innovation economy not only contributed to the Great Recession but is delaying America's recovery from it and how innovation in the United States compares with that in other developed and developing nations. Atkinson and Ezell then lay out a detailed, pragmatic road map for America to regain its global innovation advantage by 2020, as well as maximize the global supply of innovation and promote sustainable globalization.
Reports from an ambitious MIT research project that makes the case for encouraging the colocation of manufacturing and innovation. Production in the Innovation Economy emerges from several years of interdisciplinary research at MIT on the links between manufacturing and innovation in the United States and the world economy. Authors from political science, economics, business, employment and operations research, aeronautics and astronautics, and nuclear engineering come together to explore the extent to which manufacturing is key to an innovative and vibrant economy. Chapters include survey research on gaps in worker skill development and training; discussions of coproduction with Chinese firms and participation in complex manufacturing projects in China; analyses of constraints facing American start-up firms involved in manufacturing; proposals for a future of distributed manufacturing and a focus on product variety as a marker of innovation; and forecasts of powerful advanced manufacturing technologies on the horizon. The chapters show that although the global distribution of manufacturing is not an automatic loss for the United States, gains from the colocation of manufacturing and innovation have not disappeared. The book emphasizes public policy that encourages colocation through, for example, training programs, supplements to private capital, and interfirm cooperation in industry consortia. Such approaches can help the United States not only to maintain manufacturing capacity but also, crucially, to maximize its innovative potential. Contributors Joyce Lawrence, Richard K. Lester, Richard M. Locke, Florian Metzler, Jonas Nahm, Paul Osterman, Elisabeth B. Reynolds, Donald B. Rosenfeld, Hiram M. Samel, Sanjay E. Sarma, Edward S. Steinfeld, Andrew Weaver, Rachel L. Wellhausen, Olivier de Weck
"Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--
How are innovation and entrepreneurship different in New England than other parts of the world? Who are the key players driving progress forward in technology, life sciences, energy, and robotics? Scott Kirsner has covered research, startups, and venture capital in the New England region for publications like Wired, Fast Company, and the New York Times, and has written a regular column for the Boston Globe since 2000. This collection explores what it takes to start and build businesses -- whether selling fresh-cut New Hampshire Christmas trees online or designing bespoke bacteria on the edge of Boston Harbor. Kirsner includes profiles and columns of inventors Dean Kamen, Tim Berners-Lee, and Ray Kurzweil; stories about the early days of Dropbox, Facebook, and iRobot; and tales of scammers selling computer gear on eBay and scientists racing to develop new COVID vaccines. There are also colorful pieces about why Cambridge has hundreds of biotech companies and neighboring Somerville almost none; how the frat house that inspired "Animal House" became a coworking space; the mysterious Cambridge factory where every Junior Mint in the world is produced; what happened when one startup tried to obtain a license plate for its flying car; and why robots may need to carry candy to bribe humans. This collection is a must-read for anyone interested in the dynamics that drive innovation and entrepreneurship -- not just in New England, but anywhere in the world. ***** Testimonials for Innovation Economy ***** "I''ve been a passionate Scott Kirsner fan for twenty years, because he has an uncanny ability to turn complex business concepts into super-fun stories that I always learn from. Reading this collection is like sitting down to drinks with a dear friend. Some stories I remember, while some are new, and they are all fascinating." -- David Meerman Scott, Wall Street Journal bestselling author of "Fanocracy" "To succeed as an innovator, it is imperative to be informed by both the work of earlier pioneers and current-day peers. Innovation Economy is like a main line IV of those riveting stories. Plus, the book is full of little-known facts, hilarious anecdotes, and the human foibles that make these endeavors relatable." -- Jules Pieri, Co-Founder, The Grommet and author of "How We Make Stuff Now" "For years, Scott has been an avid player in the New England innovation scene. He seemed to be at every conference or gathering, often as an organizer or facilitator. He pumped us all for stories. He got to know us as people. He''d then distill that down into articles for the Boston Globe and others. More than ''reporting,'' these were stories told with reasons behind them, and with humans and the world they lived in shown as he saw it. He showed us companies that succeeded, as well as those that ultimately failed. The tales presented here give insight into an ecosystem that any region in the world would be blessed to have. You come away with a broad feel for an environment that moves technology forward..." -- Dan Bricklin, Co-Creator of VisiCalc, the computing era''s first "killer app" and author of "Bricklin on Technology" "Reading this outstanding collection reminded me about the fundamental technological changes we''ve all lived through in this century, and how important it is to understand them." -- Wade Roush, Host and Producer of the podcast Soonish "''Proximity matters,'' writes Kirsner. Innovation Economy chronicles the evolution of one of the world''s great startup hubs over the past two decades, and shows how Boston''s bold entrepreneurs have been enabled by its universities, hospitals, accelerators, big corporations, and venture capital firms. History matters, too, and Kirsner connects Boston''s present to its past with deep insight and a great flair for storytelling." -- Tom Eisenmann, Professor, Harvard Business School and author, "Why Startups Fail: A New Roadmap for Entrepreneurial Success"
A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and available evidence on economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters.
Innovative ruptures of traditional boundaries in value chains are requiring companies to rethink how they go to market, what they need to own, what they need to retain and innovate as core competencies, and how they innovatively deal with suppliers and customers. The key message of the book is that the new knowledge-networked innovation economy requires a totally different strategic management mindset, approach and toolbox, and its major value-added is a new strategic management approach and toolbox for the innovation economy - a poised strategy approach. Designed for both managers and advanced business students, the book provides a unique combination of new management theory, selected managerial articles by prominent scholars such as Clayton Christensen, Henry Chesbrough, Sumantra Ghoshal, Quinn Mills, and Peter Senge, and a wide array of real-world case examples including GE, Shell, IBM, HP, BRL Hardy, P&G, Southwest Airlines and McGraw-Hill, within the dynamics of industries such as airlines, energy, telecommunications, wine & beverages, and computing. The authors illustrate powerful new strategic innovation concepts and tools, such as poised strategy for managing multiple business models, poised strategy scorecards (moving beyond the well-known balanced scorecard), the wheel of business model reinvention, and organizational rejuvenation methods. The book includes the concepts of: Poised Strategic Management, Organizational Rejuvenation, Business Models as Platform for Strategy, Poised Scorecards, Identifying Sources of Innovation in Business Ecosystems.
First Published in 1997. Routledge is an imprint of Taylor & Francis, an informa company.
This text provides a comprehensive yet accessible introduction to the economics of innovation, written for those with some basic knowledge of economics.
Provides an agenda for future work on activities to improve understanding of innovation strategies in the medium and short term.