Author: William Lazonick & Mariana Mazzucato
Date:26 November 2012
This paper
offers a new perspective on why 'smart' innovation-led growth has not
led to 'inclusive growth'. It argues that there is a disproportionate
balance between the 'collective' distribution of risk taking in the
innovation process (e.g. 'open innovation'), and the increasingly narrow
distribution of the rewards.
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