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Innovation Economics: The Race for Global Advantage Hardcover – September 4, 2012


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Product Details

  • Hardcover: 440 pages
  • Publisher: Yale University Press (September 4, 2012)
  • Language: English
  • ISBN-10: 0300168993
  • ISBN-13: 978-0300168990
  • Product Dimensions: 6.1 x 1.1 x 9.2 inches
  • Shipping Weight: 1.6 pounds (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (9 customer reviews)
  • Amazon Best Sellers Rank: #443,581 in Books (See Top 100 in Books)

Editorial Reviews

Review

"For those of us who believe America's brightest days are ahead of us, Atkinson and Ezell offer important insights about how we can insure that innovation is at the core of our country's progress."—Jack Markell, Governor of Delaware (Jack Markell)

“Rob Atkinson and Stephen Ezell present a compelling analysis of the causes of America’s long-term structural decline, providing a very readable account of the decline in our innovation advantage.  They lay out an important agenda for learning from what other countries have done, and overcoming our barriers to making our innovation system more robust and globally competitive.”—Willy C. Shih, Harvard Business School

(Willy C. Shih)

“It was rousing to read Innovation Economics. The authors have built a thorough and extensive understanding of the wide nature and spectrum of innovation as well as of reasons why the U.S. and all nations have so many challenges to run successful innovation policy. The list of eight “I’s” is an excellent summation of the broad areas that are crucial for successful innovation policy. I really enjoyed becoming familiar with the in-depth study and argumentation by the authors, and fully agreed with them.”—Dr. Veli-Pekka Saarnivaara, CEO, Tekes – Finnish Funding Agency for Technology and Innovation
(Veli-Pekka Saarnivaara)

"Atkinson and Ezell provide the definitive guide to innovation and its impact on economic prosperity. If you care about innovation, you need to read this book."—Justin Rattner, Chief Technology Officer, Intel Corporation
(Justin Ratner)

"In today's highly competitive global economy, innovation matters more than ever to a country's standard of living. But as Atkinson and Ezell so persuasively argue, this is a race in which the US is falling behind.  Even more concerning, they draw striking parallels to other countries that have followed similar paths.  This book challenges many myths about the US's long-term competitive situation, and offers important suggestions for how to reverse course. With Innovation Economics,  Atkinson and Ezell have sounded an important wake up call."—Gary Pisano, Professor of Business Administration, Harvard Business School
(Gary Pisano)

"Innovation Economics offers a frank assessment of many of the underlying causes of our economic challenges and helps explain why recovery has remained so elusive. Rob Atkinson and Stephen Ezell have collaborated on a timely call to action: America can compete and win the global economic race, but only if we change our mindset and update many of our policies.”—Senator Mark Warner (D, VA)
(Mark Warner)

“Innovation Economics” is a valuable book. The authors are right to warn that America’s leadership in several areas has eroded much more rapidly than most Americans think. They are right to argue that classical economists are often blind to the fact that innovation is the product of ecosystems rather than individual companies and that ecosystems are fragile. They are also right to worry that “innovation mercantilism” can be much more harmful to its targets than traditional mercantilism: even if it doesn’t benefit the sinner in the long run it can seriously damage the sinned against.”—Business Books Quarterly Review, The Economist
(The Economist)

“Yet why should government support for scientific research and technology development be spared from the belt-tightening? Unless society benefits inordinately from such spending, there is no case for special treatment. In a new book, Innovation Economics: The Race for Global Advantage (Yale University Press), Robert D. Atkinson and Stephen J. Ezell forcefully present the argument for the exceptional role that science and technology play in the economy. In their book, Mr. Atkinson and Mr. Ezell define innovation as not only the generation of new ideas but also as their adoption in new products, processes, services and organizational models. In their view, the goal of policy should be to invest in and nurture the development of the innovation pipeline, from basic science to commercialization. A linchpin of innovation policy, according to Mr. Atkinson, is collaboration between government and industry.” —Steve Lohr, The New York Times
(Steve Lohr The New York Times)

About the Author

Robert D. Atkinson is president of the Information Technology and Innovation Foundation and one of the world’s foremost thinkers on innovation economics.
Stephen J. Ezell is senior analyst at ITIF.

Customer Reviews

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In any case they do not proceed with an argument.
Jackal
Atkinson and Ezell spell out a framework for action that can be put to work in the United States.
Kent H. Hughes
Their book is filled with references to the latest research backing up their case.
Joseph Kennedy

Most Helpful Customer Reviews

10 of 12 people found the following review helpful By Serge J. Van Steenkiste on November 4, 2012
Format: Hardcover Verified Purchase
Robert Atkinson and Stephen Ezell systematically challenge the ideological tenets of the dysfunctional Washington Economic Consensus that the U.S. economic elites cherish (pp. 54-56; 73-74; 78-80; 82-84; 93; 231-232; 250; 360; 363-364). Messrs. Atkinson and Ezell convincingly demonstrate that the U.S. is losing the innovation race by making the same mistakes that the United Kingdom made during its dramatic industrial decline from the mid-1950s to the late 1970s. The outcome of this decline has been trifold: 1) a decline in real manufacturing output as a share of gross domestic product, 2) the emergence of chronic trade deficits, and 3) slower per capita economic growth than most comparable nations over a sustained period of time (pp. 9; 32-56; 57-84; 360).

If the U.S. does not want to follow in the footsteps of the United Kingdom, it needs to acknowledge the gravity of the situation and acts decisively and boldly before it is too late (pp. 31-32; 62; 85-127; 162-163; 234; 250; 252; 263). Therefore, Messrs. Atkinson and Ezell call for a new Washington Economic Consensus based on the following ten principles:

1. Although the U.S. still has important strengths in sectors such as advanced aerospace and medical devices, it is no longer leading in innovation-based competitiveness. Think for example about the fast declining manufacturing sector, the more rapid growth of R&D overseas, or the relative decline in the number of scientists and engineers. This decline is expected to continue unless business, labor, academia, and the government work together (pp. 9; 17; 25; 34-46; 49-54; 59; 82; 89; 95; 97; 103; 109-124; 181-187; 227; 233; 236-237; 312).
2.
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1 of 1 people found the following review helpful By H. Gibbs Bauer on March 24, 2014
Format: Paperback Verified Purchase
Groundbreaking original research in the area of international competitive economics, and an important first step toward assuring America’s competitive excellence in the 21st Century and beyond.
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4 of 6 people found the following review helpful By Kevin on October 25, 2012
Format: Hardcover Verified Purchase
I picked up a copy of "INNOVATION ECONOMICS: THE RACE FOR GLOBAL ADVANTAGE" last week and was pleasantly surprised. The book was well-organized and was interesting to read. Many complicated concepts were laid out and often times were reiterated with real-world examples.

The book disused on how the US stumbled into the great recession (2007-2009) and went on to explain how the US is no longer the global innovation leader (and how England declined as well).

The authors went on and warned that the global race for innovation is current under way, and unless the US government implements public policies to embrace innovation and the current mindset, we may lower our standard of living (they provide a powerful case in support of increasing R & D initiatives to support innovation).

After discussing the challenges, the authors lays out a plan (if successful) could regain its global advantages in the next 10 years.

The book was 440 pages, but was a quick read. The book was jammed with fresh ideas and relates greatly to what is currently happening in the US and is a MUST READ for anyone interested in innovation or economics in general.
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5 of 8 people found the following review helpful By Joseph Kennedy on November 14, 2012
Format: Hardcover
This book lays out a clear case for a third approach to economic policy. The authors solution rejects the heavy faith that conservatives place on markets but agrees with them on the importance of economic growth. It also disagrees with most liberals about government's ability to pick winners and losers among different companies and industries but agrees with them about the importance of income inequality and infrastructure. The authors firmly believe that countries compete against each other in the economic and political environment they create. Their book explains the need for an innovation policy to improve this environment and explains what this policy would include.

Atkinson is the President and Ezell a senior analyst at the Information Technology and Innovation Foundation, which has produced much of the best policy research on competiveness over the last decade. They believe that most observers are underestimating the erosion of America's advantages in global trade. Until recently, much of this failure was covered up by our strong performance in a few computing industries and by the growth of debt-fueled consumption. Meanwhile the social and physical infrastructure supporting U.S. companies was not being replenished, leading to the decline of most manufacturing industries. Unlike conservatives, they believe that the competitiveness of American companies is strongly linked to the overall economic infrastructure and that this infrastructure requires sound government policies to encourage it because companies do not have an incentive to create it themselves.

But Innovation Economics is also careful to warn against the dangers of heavy government intervention.
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1 of 2 people found the following review helpful By Kent H. Hughes on November 2, 2012
Format: Hardcover
For Atkinson and Ezell, the effective commercialization of innovation is the key to long-run prosperity and national strength. They describe the battle among nations to win the commercialization race by competing for investment, research labs, and well-educated talent. They also detail the barriers that have kept the United States from developing its own innovation strategy including how ideas (in this case, the popular version of neoclassical economics) can be particularly powerful. America is in danger of losing its long-standing edge in innovation. Atkinson and Ezell spell out a framework for action that can be put to work in the United States. For people concerned about America's economic future, their Innovation Economics is a must-read.
(Kent Hughes)
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More About the Author

Dr. Robert D. Atkinson is one of the country's foremost thinkers on innovation economics. With has an extensive background in technology policy, he has conducted ground-breaking research projects on technology and innovation, is a valued adviser to state and national policy makers, and a popular speaker on innovation policy nationally and internationally. He is the author of "Innovation Economics: The Race for Global Advantage" (Yale, 2012) and "The Past and Future of America's Economy: Long Waves of Innovation That Power Cycles of Growth"
(Edward Elgar, 2005). Before coming to ITIF, Atkinson was Vice President of the Progressive Policy Institute and Director of PPI's Technology & New Economy Project. Ars Technica listed Atkinson as one of 2009's Tech Policy People to Watch. He has testified before a number of committees in Congress and has appeared in various media outlets including CNN, Fox News, MSNBC, NPR, and NBC Nightly News. He received his Ph.D. in City and Regional Planning from the University of North Carolina at Chapel Hill in 1989.

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