The economics of innovation | Paul Romer | Innoscape Talk #2

Our second Innoscape Talk episode is devoted to the economic analysis of innovation and growth. Paul Romer (Nobel Prize in Economics 2018) explains why innovations are so important for the economic development and shares his views on the role of governments, markets and digitalization in innovation processes.

Questions:
00:00 Intro
00:24 What are the economics of ideas?
02:51 Ideas within the firm: How corporate culture may enhance innovation?
05:06 What is the role of the government within innovation processes?
09:28 Markets, science and property rights: How does the diffusion of ideas work?
13:41 Should Switzerland focus on promoting digital industries?
15:50 What is the role of universities in transforming societies?
18:02 Is digitalization threatening market competition?
22:14 How to prevent a collapse of market competition in the age of digitalization?
23:42 What lessons can we learn from the pandemic?
26:30 Outro

Innoscape Talks is an online interview video series embedded in the Innoscape Project. Leading experts from industry, politics and academia exclusively share their knowledge and experiences related to specific aspects of innovation. With the Innoscape Talks we want to contribute to a broad public discussion about the viability of Switzerland’s current innovation landscape.

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Interview hosted by Professor Rolf Weder
Question Script by Dragan Filimonovic, Matthias Niggli, Christian Rutzer, Till Schmidlin & Professor Rolf Weder
Production by Bald Wolf Studio
Edited by AVIATICFILMS

Disclaimer: The Innoscape Talk series exclusively conveys the opinion of its interviewed experts. It is not intended to represent the position or opinion of the University of Basel or the CIEB. Nor is it the official position of any staff.

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Center for International Economics and Business | CIEB
University of Basel