The studies also document the importance of knowledge-sharing for innovations to flourish. Sometimes this involves free sharing; for example, there are significant open-source communities in 3D printing and robotics. But proprietary approaches are also important, as illustrated by the frequent cross-licensing of semiconductor patents. The IP system generally enables knowledge-sharing by providing a flexible tool for innovators to decide which technologies to share, with whom, and on what terms.
What do you mean by “breakthrough innovation”? Isn’t every innovation by definition a breakthrough?
That, unfortunately, is where things get difficult. Logically, the answer should be yes. There ought to be plenty of scope for growth in the global economy.
There has been a huge fall in poverty globally over the past few decades, thanks largely to rapid development in China and India, but obviously many countries have not yet developed economically and many, many people remain very poor. So there is room for development. And it is clear that some of the innovations now underway — including the three we studied — have astonishing potential. However, we really cannot take growth for granted.
Innovation economics - Wikipedia
As I said earlier: It may prove to have been an historical anomaly. For me, the bottom line is this: But if governments and businesses stop investing, those days are definitely over.
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Artificial Intelligence Universities Gender Equality. Was this unusually high growth caused by breakthrough innovations?
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These must have been difficult issues to study. This means that while well-performing frontier firms are highly innovative, so-called laggard firms do not benefit much from innovation. Our website uses cookies We are always working to improve this website for our users. Learn more about how we use cookies I understand and I accept the use of cookies I do not accept the use of cookies.
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Innovation economics
More goods and services are produced, stimulating wages and business profitability. Twitter facebook linkedin Whatsapp email.
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Faculdade de Economia, Universidade do Porto. Romer, Paul M, Paul M Romer, Increasing Returns or Cyclical Utilization? You can help correct errors and omissions. When requesting a correction, please mention this item's handle: See general information about how to correct material in RePEc. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: