The Innovation Illusion: How So Little Is Created By So Many Working So Hard by Fredrik ErixonThe Innovation Illusion: How So Little Is Created By So Many Working So Hard by Fredrik Erixon

The Innovation Illusion: How So Little Is Created By So Many Working So Hard

byFredrik Erixon, Björn Weigel

Hardcover | November 22, 2016

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Timely, compelling, and certain to be controversial—a deeply researched study that reveals how companies and policy makers are hindering innovation-led growth

Conventional wisdom holds that Western economies are on the threshold of fast-and-furious technological development. Fredrik Erixon and Bjorn Weigel refute this idea, bringing together a vast array of data and case studies to tell a very different story.

With expertise spanning academia and the business world, Erixon and Weigel illustrate how innovation is being hampered by existing government regulations and corporate practices. Capitalism, they argue, has lost its mojo. Assessing the experiences of global companies, including Nokia, Uber, IBM, and Apple, the authors explore three key themes: declining economic dynamism in Western economies; growing corporate reluctance to contest markets and innovate; and excessive regulation limiting the diffusion of innovation. At a time of low growth, high unemployment, and increasing income inequality, innovation-led growth is more necessary than ever. This book unequivocally details the obstacles hindering our future prosperity.
Fredrik Erixon is the director and cofounder of the European Centre for International Political Economy (ECIPE). Björn Weigel is a business strategist and investor/entrepreneur with extensive experience in working with innovative companies and start-ups. They both live in Sweden.
Title:The Innovation Illusion: How So Little Is Created By So Many Working So HardFormat:HardcoverDimensions:312 pages, 9.25 × 6.12 × 0.98 inPublished:November 22, 2016Publisher:Yale University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0300217404

ISBN - 13:9780300217407

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Economic stagnation afflicts the developed world, and the puzzle of slow productivity growth is the leading economic question of our age.  Erixon and Weigel have developed a profoundly original and multi-faceted explanation rooted in the dead weight of corporate bureaucracy, with its striving for short-term profits and avoidance of risk, as well as government-created regulatory complexity and policy uncertainty.  The book is concise, lively, full of examples, and deeply researched from sources that span economics and management science. Innovation is the life blood of the modern economy and our economies seem to be a litre or two short. This highly accessible book argues convincingly that the problems we are having with R&D is not the ‘R’ part, it is the ‘D’ part. We are not lacking invention, we are lacking the policy and competitive environment needed to turn new science into new, economically useful product and processes. This is an important and insightful read for all those concerned by big-picture economic problems. A very well written account of how corporate bureaucracy, rent-seeking and regulation are slowing the pace of innovation. Today's hidebound capitalism is throttling not just the west’s economic growth, but even the aspirations of its people. If dynamism is to be regained, argues this thought-provoking book, we must reject the rentier capitalism that masquerades as the real thing. This argument for a more dynamic market economy is not just challenging; it is also of huge importance.