This major textbook provides a comprehensive yet accessible introduction to the economics of innovation, written for students with some basic knowledge of economics. G.M. Peter Swann contends that innovation is one of the most important economic and business phenomena of our time and a topic of great practical and policy interest, with widespread implications for our economy and society. This book engages with the reader to explore some of the key economic issues concerning innovation.
Bridging a gap in the literature, this timely textbook addresses critical questions such as: How should different aspects of innovation be described and classified? What are the incentives to innovate? How should firms organize themselves to promote innovation? What are the effects of innovation on the economy? Do governments have a role in supporting and guiding innovation?
Introducing the student to a broad range of issues surrounding the economics of innovation, this text will prove invaluable to students on a variety of courses including economics, business and management, innovation, and science and technology studies.
Part I: Context
1. What is the Economics of Innovation About?
2. Innovation in the History of Economic Thought
Part II: Aspects of Innovation
3. Basic Concepts in Innovation
4. Process Innovation
5. Product Innovation
6. Innovative Pricing
7. Network Effects and Standards
8. Intellectual Property
Part III: How Firms Achieve Innovation
9. Innovation and Creativity
10. The Entrepreneur and Innovation
11. Organisation for Innovation
12. Vision and Innovation
13. Clusters and Networks
14. Division of Labour
Part IV: Innovation and the Consumer
15. The Passive Consumer and the Active Consumer
16. The Diffusion of Innovations
Part V: The Effects of Innovation
17. Innovation and Trade
18. Innovation and Market Structure
19. Innovation and Wealth Creation
20. Innovation and Competitiveness
21. Innovation and Sustainability
Part VI: Innovation and Government
22. Innovation and Policy
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G.M. Peter Swann OBE, Professor of Industrial Economics, University of Nottingham and Director, Innovative Economics Ltd., UKReview:
The author has successfully accomplished the task he set himself for this text: to provide a comprehensive yet accessible introduction to the economics of innovation. It actually exceeds this remit since it engages the reader in a much broader appreciation of the process and contextual structures of innovation. . . this book is a welcome and valuable addition to the field for students and teachers alike who are fascinated by this increasingly important field of research. --Ewa Helinska-Hughes, International Journal of Entrepreneurship & Innovation
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