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Innovation and Economic Growth

Researchers today are trying to understand how information technology affects innovation, productivity, and economic growth while studying the impact of political and legal ground rules. Academics featured here are looking at the potential to create jobs and keep policymakers aware of emerging trends in technology.

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TAP Blog

A very interesting group of essays on the future of law and economics by ten University of Chicago professors. Here’s my quick, rough and ready guide to the 10 essays — which comes with a recommendation to check them all out in their entirety of course — followed by a few comments and reactions at the end of this post.
With co-authors Richard A. Epstein and F. Scott Kieff, Professor Dan Spulber addresses concerns about the Federal Trade Commission’s (FTC) recent report, “The Evolving IP Marketplace.” In their article, “The FTC, IP, and SSOs: Government Hold-Up Replacing Private Coordination,” these TAP scholars outline the adverse effects implementation of the FTC proposal would have on the intellectual property marketplace.
Daron Acemoglu, Professor of Economics at MIT, discusses his thoughts on using innovation to increase the nation’s growth rate as a means to reign in the government deficit.
TAP interviewed economics professor Jonathan Levin, Stanford University, about his research, current interests, and applications of his work for day-to-day life. Professor Levin recently received the John Bates Clark Medal, an award granted to an American economist younger than 40 who has made the most significant contributions to economic thought and knowledge.
With 2011 now well underway, observers of the tech world continue to watch signs of economic recovery. Several scholars, entrepreneurs, and policymakers anticipate that innovation and innovation policy will play a key role in the recovery in the United States and abroad.
The Obama Administration and 112th Congress continue to tackle several major technology policy issues; several are being pointed to as ways to not only promote innovation, but also to aide in economic recovery. This post provides a summary of the 2011 State of the Net conference that focused on this topic, and also explores some of the recent activity in our nation’s capital to ensure innovation thrives in America.
Professor Daron Acemoglu of Massachusetts Institute of Technology, is one of the top 100 Global Thinkers of 2010 for showing that freedom is about more than markets. The list is compiled by Foreign Policy magazine. Included is a video interview link with Professor Acemoglu discussing global development and the historic roots of economic & political success.
Columbia law professor Tim Wu discusses his new book, "The Master Switch: The Rise and Fall of Information Empires" in a two-part video discussion from Press: Here.
This blog surveys the work of James Rebitzer, Daniel Kessler, and other scholars on the role of technology in health care.
In a Bloomberg video interview, Professor Nick Bloom discusses his research on uncertainty and its effects on markets.
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Fact Sheets

Innovation

Innovation is a word used to describe new ideas and inventions that have impact – impact to consumers, to markets, to industries, to the economy as a whole, and even to society and culture.

Quote

How Software Is Stifling Competition and Slowing Innovation

“There is an advantage to software that economists haven’t really reckoned with yet. Software isn’t accelerating creative destruction today. Software is suppressing it.” — James Bessen, Executive Director of the Technology & Policy Research, Boston University

James Bessen
The New York Times
July 21, 2022

Featured Article

Intellectual Contract and Intellectual Law

Technological change is increasing the importance of intangible assets. A new legal concept, the “Intellectual Contract” (IC), would better support innovation, as current Intellectual property (IP) rules are limited.

By: Daniel Spulber