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Economics of Innovation

The purpose of the group is to gather young scholars interested or working in innovation related issues. The group provides a platform to create professional and academic networks for young scholars to share and promote their work.

Innovation is far too important to be left to scientists and technologists. It is also far too important to be left to economists or social scientists” (Freeman, 1974).

We focus, in addition to some traditional aspects of innovation economics (e.g the financing of innovation, innovation & competition, innovation & industry dynamics and the relationship between innovation, economic growth and economic development), on innovation in history of economic thought and innovation seen through the lens of neighboring social sciences such as history and sociology. Because of our holistic approach to innovation, the working group aims also at creating synergies inside the YSI platform.

Since its creation in 2014, the group has managed the following events:


— 2 Day workshop on Basic Income at The Future of Work Conference in Zurich, May 2016

— 3 Day annual YSI plenary at the Central European University with a panel on : “Economics of Innovations and Innovation in Economics” with William Lazonick, Mariana Mazzucato and Giovanni Dosi in Budapest, October 2016

— 2 Day workshop on “Bubbles in finance, science and society” with William H. Janeway at the Economics of Post- Factual Democracy Conference in Copenhagen, February 2017

— 4 day workshop at the Latin America Convening on “Globalization and the Developing World” in Mexico City, June 2017

— 3 day Conference at the Ragnar Nurkse School of Innovation and Governance known as the Innovation Working Group Annual Conference on: “Innovation, Institutions and Governance” with Carlota Perez, Mary O’Sullivan, Erik S. Reinert, Dan Breznitz, William Janeway, and round tables with local policy-makers in Tallinn, 16-19 September 2017


— William Lazonick for his Harvard Business Review’s article “Profits Without Prosperity: Stock Buybacks Manipulate the Market and Leave Most Americans Worse Off”; OECD, April 2015

— Mariana Mazzucato for her book ”The Entrepreneurial State: debunking public vs. private sector myths”; December 2015

— A series of webinars on “Innovation in Developing Countries“ in collaboration with the Latin America Working Group

Invited speakers:  

  1. Paulo Gala on “The Structuralist Revenge: economic complexity as an important dimension to evaluate growth and development.”  
  2. Bart Verspagen on “The role of regional clusters in change of technological trajectories.”
  3. Adam Szirmai on “Escaping middle income traps. The role of structural modernisation and technological upgrading.” 
  4. Michiko Iizuka on “Catching Up in the 21st Century: Globalization, Knowledge and Capabilities in Latin America, a Case for Natural Resource Based Activities”.

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