"The innovation economy begins with discovery and culminates in speculation. Over some 250 years, economic growth has been driven by successive processes of trial and error: upstream exercises in rese
Legendary economist Hyman Minsky identified author William H. Janeway as a 'theorist-practitioner' of financial economics; this book is an expression of that double life. Interweaving his unique professional perspective with political and financial history, Janeway narrates the dynamics of the innovation economy from the standpoint of a seasoned practitioner of venture capital, operating on the frontier where innovative technology transforms the market economy. In this fully revised and updated edition, Janeway explains how state investment in national goals enables the innovation process and why financial bubbles accelerate and amplify its impact. Now, the digital revolution, sponsored by the state and funded by speculation, has matured to attack the authority, and even the legitimacy, of governments. The populist response in the west, especially in the United States, opens the door for China to seize leadership of the innovation economy from America.
Although technological change is vital for economic growth, the interaction offinance and technological innovation is rarely studied. This pioneering volume examines the ways inwhich innovation is fun
