Innovation and Inequality Workshop

Saturday, 15 May 2010 - 9:45 - Sunday, 16 May 2010 - 13:00
Sant’Anna School of Advanced Studies, Pisa, Italy

For more information on this project please visit the Innov-Eq project website.

The Innovation and Inequality: New Indicators from Pharma and Beyond workshop was sponsored by DIME (Dynamics of Institutions and Markets in Europe), The Open University’s Centre for Innovation, Knowledge and Development (IKD) and FINNOV, an EC FP7 project.

Workshop organisers: Mariana Mazzucato (The Open University) and Luigi Orsenigo (University of Brescia)

The workshop brought together innovation economists, economic historians and industrial economists to think creatively about the way that innovation and inequality co-evolve– and how this relationship has changed over the course of capitalism. While this theme was crucial in the analysis of Classical economists, it has been almost forgotten in subsequent studies of innovation and technological change. The observation of rising inequality across and within countries is beginning to resurrect this issue, in particular as it concerns the hypothesis of skill-biased technological change and the impact of a stronger IPR regime at the global level. Recent work has also begun to examine how the financing of R&D – particularly through venture capital and the stock market - may induce corporate strategies and bubbles which may contribute to rising inequality.

The view from an industry dynamics perspective is useful as the relationships above differ between sectors. The case of the bio-pharmaceutical industry is particularly significant and extreme in these respects because it widens the perspective from inequality in income and wealth distribution to other fundamental dimensions of well-being like health and “access” (to innovations).
The presentations and discussions motivated researchers to think more systematically about a Schumpeterian approach to inequality.
DIME_FINNOV_Innovation_and_Inequality_Workshop_Pisa.pdf58 KB