The Innovation Economy

Kwasi Kwarteng, Ryan Bourne and Jonathan Dupont
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Ryan Bourne: Institute of Economic Affairs
Jonathan Dupont: Policy Exchange

Chapter 4 in A Time for Choosing, 2015, pp 91-111 from Palgrave Macmillan

Abstract: 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.

Keywords: Industrial Policy; Network Rail; Innovation Economy; National Champion; Sustainable Business Model (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-48257-0_5

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DOI: 10.1007/978-1-137-48257-0_5

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