The Innovation Illusion

Timely, compelling, and certain to be controversial—a deeply researched study that reveals how companies and policy makers are hindering innovation-led growth Conventional wisdom holds that Western economies are on the threshold of fast-and-furious technological development. Fredrik Erixon and Bjorn Weigel refute this idea, bringing together a vast array of data and case studies to tell a very different story. With expertise spanning academia and the business world, Erixon and Weigel illustrate how innovation is being hampered by existing government regulations and corporate practices. Capitalism, they argue, has lost its mojo. Assessing the experiences of global companies, including Nokia, Uber, IBM, and Apple, the authors explore three key themes: declining economic dynamism in Western economies; growing corporate reluctance to contest markets and innovate; and excessive regulation limiting the diffusion of innovation. At a time of low growth, high unemployment, and increasing income inequality, innovation-led growth is more necessary than ever. This book unequivocally details the obstacles hindering our future prosperity.

Virtually everyone—left, right, and center—believes that capitalist economies are autonomous, coherent, and regulated by their own internal laws. This view is an illusion. The reality is that economies organized around the pursuit of private profit are contradictory, incoherent, and heavily shaped by politics and governmental action. But the illusion remains hugely consequential because it has been embraced by political and economic elites who are convinced that they are powerless to change this system. The result is cycles of raised hopes followed by disappointment as elected officials discover they have no legitimate policy tools that can deliver what the public wants. In Capitalism, leading economic sociologist Fred L. Block argues that restoring the vitality of the United States and the world economy can be accomplished only with major reforms on the scale of the New Deal and the post–World War II building of new global institutions.

“Innovation” is the hottest buzzword in business. But what if our obsession with finding the next big thing has distracted us from the work that matters most? “The most important book I’ve read in a long time . . . It explains so much about what is wrong with our technology, our economy, and the world, and gives a simple recipe for how to fix it: Focus on understanding what it takes for your products and services to last.”—Tim O’Reilly, founder of O’Reilly Media It’s hard to avoid innovation these days. Nearly every product gets marketed as being disruptive, whether it’s genuinely a new invention or just a new toothbrush. But in this manifesto on thestate of American work, historians of technology Lee Vinsel and Andrew L. Russell argue that our way of thinking about and pursuing innovation has made us poorer, less safe, and—ironically—less innovative. Drawing on years of original research and reporting, The Innovation Delusion shows how the ideology of change for its own sake has proved a disaster. Corporations have spent millions hiring chief innovation officers while their core businesses tank. Computer science programs have drilled their students on programming and design, even though theoverwhelming majority of jobs are in IT and maintenance. In countless cities, suburban sprawl has left local governments with loads of deferred repairs that they can’t afford to fix. And sometimes innovation even kills—like in 2018 when a Miami bridge hailed for its innovative design collapsed onto a highway and killed six people. In this provocative, deeply researched book, Vinsel and Russell tell the story of how we devalued the work that underpins modern life—and, in doing so, wrecked our economy and public infrastructure while lining the pockets of consultants who combine the ego of Silicon Valley with the worst of Wall Street’s greed. The authors offer a compelling plan for how we can shift our focus away from the pursuit of growth at all costs, and back toward neglected activities like maintenance, care, and upkeep. For anyone concerned by the crumbling state of our roads and bridges or the direction our economy is headed, The Innovation Delusion is a deeply necessary reevaluation of a trend we can still disrupt.

This book presents a dynamic model of the interactions between organizational innovation systems' key components: product, person, process, and press.

The USA has often failed to capitalise on its technological breakthroughs. This analysis of the weaknesses and strengths of US high technology warns that until the US learns to reconnect research and development with production, foreign companies will continue to prevail in the world marketplace.

A Stanford University Press classic.

There are far more entrepreneurs than most people realize. But the failure rate of new businesses is disappointingly high, and the economic impact of most of them disappointingly low, suggesting that enthusiastic would-be entrepreneurs and their investors all too often operate under a false set of assumptions. This book shows that the reality of entrepreneurship is decidedly different from the myths that have come to surround it. Scott Shane, a leading expert in entrepreneurial activity in the United States and other countries, draws on the data from extensive research to provide accurate, useful information about who becomes an entrepreneur and why, how businesses are started, which factors lead to success, and which predict a likely failure. The Illusions of Entrepreneurship is an essential resource for everyone who has dreamed of starting a new business, for investors in start-ups, for policy makers attempting to facilitate the formation and survival of new businesses, and for researchers interested in the economic impact of entrepreneurial activity. Scott Shane offers research-based answers to these questions and many others: · Why do people start businesses? · What industries are popular for start-ups? · How many jobs do new businesses create? · How do entrepreneurs finance their start-ups? · What makes some locations and some countries more entrepreneurial than others? · What are the characteristics of the typical entrepreneur? · How well does the typical start-up perform? · What strategies contribute to the survival and profitability of new businesses over time?

The Seductive Illusion of Hard Work is a first-of-its-kind book, and highlights that hard work is necessary but insufficient for success.