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The Innovation Economy

In: A Time for Choosing

Author

Listed:
  • Kwasi Kwarteng
  • Ryan Bourne

    (Institute of Economic Affairs)

  • Jonathan Dupont

    (Policy Exchange)

Abstract

Many worry that we have entered a ‘new normal’ of low productivity, or that our economy has become dangerously unbalanced. However, there are many reasons to be optimistic about the future. As a creative and high-skilled economy, we are well placed to benefit from future technology. Attempts to plan for this future or pick winners are likely to prove counter-productive, restricting the competition that is the real driver of increased productivity. Unfortunately, government regulation has created inefficient oligopolies in too many sectors across our economy, including banking, utilities and the media. The most effective competition comes from new entrants, and it is still too hard to start and grow a new business in Britain.

Suggested Citation

  • Kwasi Kwarteng & Ryan Bourne & Jonathan Dupont, 2015. "The Innovation Economy," Palgrave Macmillan Books, in: Kwasi Kwarteng & Ryan Bourne & Jonathan Dupont (ed.), A Time for Choosing, chapter 4, pages 91-111, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-48257-0_5
    DOI: 10.1007/978-1-137-48257-0_5
    as

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