Innovation for the Masses: How To Share the Benefits of the High-Tech Economy

This book explores the relationship between innovation, economic development, and equality. In a departure from the usual discourse, which is often about creating more high-tech nations, Lee (economic geography, London Sch. of Economics) looks at how to harness innovation, especially in the tech sector, to improve the lives of a broad swath of society. Opening chapters define innovation; set out its risks, opportunities, and impact on standards of living (very high-tech cities, like San Francisco, often contain extreme economic inequality); and argue that workers, not just their bosses, should benefit from innovation. The bulk of the book is dedicated to a comparative analysis of the approaches of four countries: Switzerland’s blend of radical and incremental innovation and emphasis on long-cycle industries; Austria’s success in low-tech industries and strong social partnerships; Taiwan’s balance of growth in skills and small to medium enterprises; and Sweden’s model, which shows that a strong welfare state need not inhibit competition within industries.