How an emerging pattern of material flow could empower innovation

Trade and manufacturing are two cornerstones of the human endeavour, together they shape a society's flow of tangible, material goods. As discussed in a brief history of material flow, trade and manufacturing have evolved only very slowly for most of our history, with the significant exception of the period after the Industrial Revolution. Today I'll present snapshots of … Continue reading How an emerging pattern of material flow could empower innovation →

Empowering innovation

Most often, the term empowering innovation is used as a synonym for disruptive innovation. For good reason, as these terms vividly describe two different views of the very same type of innovation: taking of complex and expensive product or service, and making it simpler and more affordable is the underlying definition that you'll have seen … Continue reading Empowering innovation →

A vision for economics

What could our economy and society be like in thirty to forty, maybe even fifty years? Just doing the same things differently? Or doing really different things? What could those things be? And what could economics tell us about that far-term future? If you ask for such genuine vision, the reaction you'll most likely receive ranges somewhere between an innocent shrug and a linear extrapolation of the recent past: neither inspired nor very inspiring. With only few exceptions.

And what about the risk of innovation success?

The outcome of any innovative endeavour is by no means certain. Rather, innovation entails risk for the innovator as well as for the society he's working in. The first might be considered the risk of innovation failure, which I have already addressed in a previous post. The second risk is the risk of innovation success, and that's what I'll focus today's post on.

Why innovation policy fails …

Often times, the theory is one thing, and its application is something entirely different. Innovation policy is no exception, so that the transfer of conceptual ideas into practice is fraught with unpleasant surprise. I'd suggest two specific challenges to successful policy making in support of innovation: one is related to integrity, the other to competition.