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Innovation and Competence Building in the Learning Economy: Implications for Innovation Policy

In: Interactive Learning for Innovation

Author

Listed:
  • Bengt-Åke Lundvall
  • Edward Lorenz

Abstract

The idea that knowledge matters for the economy is far from new. Adam Smith (1776) refers to the division of labor among specialized ‘men of speculation’ as an important source of innovation. Friedrich List (1841) argues that the most important form of capital is ‘mental capital’. Karl Marx (1868) pointed to science as an important productive force. In the twentieth century the British scholar Bernal (1936) proposed that raising investments in R&D from 0.2 to 2% in Great Britain would stimulate the economy and bring a new kind of economic growth, and a similar message was formulated in The Endless Frontier by Vannevar Bush (1945), which laid the foundation of post-war science policy in the United States.

Suggested Citation

  • Bengt-Åke Lundvall & Edward Lorenz, 2012. "Innovation and Competence Building in the Learning Economy: Implications for Innovation Policy," Palgrave Macmillan Books, in: Bjørn T. Asheim & Mario Davide Parrilli (ed.), Interactive Learning for Innovation, chapter 1, pages 33-71, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36242-0_2
    DOI: 10.1057/9780230362420_2
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    Cited by:

    1. Armanda Cetrulo & Dario Guarascio & Maria Enrica Virgillito, 2020. "Anatomy of the Italian occupational structure: concentrated power and distributed knowledge [How Europe’s economies learn: a comparison of work organization and innovation mode for the EU-15]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 29(6), pages 1345-1379.
    2. Sawsan Abutabenjeh & Julius A. Nukpezah & Annus Azhar, 2022. "Do Smart Cities Technologies Contribute to Local Economic Development?," Economic Development Quarterly, , vol. 36(1), pages 3-16, February.

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