Introduction: The Economics of Knowledge for the Knowledge Economy

  • Cristiano AntonelliEmail author


This introduction presents the analytical framework implemented by the book as the grafting of the tools elaborated by the economics of knowledge and the legacy of Joseph Schumpeter to explore the foundations of the new knowledge economy and the shift away from the corporate growth regime. It frames the innovation process as a creative response based upon the accumulation, generation and exploitation of knowledge and highlights the new structure of advanced economies where knowledge is at the same time the prime input and output. It emphasizes the limits of the new knowledge growth regime, raised by the role of finance, income distribution and intellectual property rights and recommends appropriate economic policies based upon an open technology approach.


Economics of knowledge Knowledge economy Schumpeterian growth regimes Open technology 


  1. Aghion, P., Howitt, P., & Prantl, S. (2015). Patent rights, product market reforms, and innovation. Journal of Economic Growth, 20(3), 223–262.CrossRefGoogle Scholar
  2. Aglietta, M. (1976). Regulation et crises du capitalism. Paris: Calman-Levy [the quotes are drawn from the English translation: Aglietta, M. (2000). A theory of capitalist regulation: The US experience. New York: Verso.].Google Scholar
  3. Antonelli, C. (2017a). Endogenous innovation: The economics of an emergent system property. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
  4. Antonelli, C. (2017b). Digital knowledge generation and the appropriability trade-off. Telecommunications Policy, 40, 991–1002.CrossRefGoogle Scholar
  5. Antonelli, C. (2018). The evolutionary complexity of endogenous innovation: The engines of the creative response. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
  6. Antonelli, C., & Colombelli, A. (2011). Globalization and directed technological change at the firm level: The European evidence. In G. Libecap (Ed.), Advances in the study of entrepreneurship, innovation and economic growth (Vol. 22, pp. 1–20). Cambridge: Emerald Publishing.Google Scholar
  7. Antonelli, C., & Fassio, C. (2011). Globalization and innovation in advanced economies. In G. Libecap (Ed.), Advances in the study of entrepreneurship, innovation and economic growth (Vol. 22, pp. 21–46). Cambridge: Emerald Publishing.Google Scholar
  8. Antonelli, C., & Fassio, C. (2014). The economics of the light economy: Globalization, skill biased technological change and slow growth. Technological Forecasting & Social Change, 87, 89–107.CrossRefGoogle Scholar
  9. Antonelli, C., & Fassio, C. (2016). Globalization and the knowledge economy. Economic Development Quarterly, 30(1), 3–14.CrossRefGoogle Scholar
  10. Antonelli, C., Geuna, A., & Steinmueller, E. W. (2000). Information and communication technologies and the production, distribution and use of knowledge. International Journal of Technology Management, 20, 72–94.CrossRefGoogle Scholar
  11. Arrow, K. J. (1962). Economic welfare and the allocation of resources for invention. In R. R. Nelson (Ed.), The rate and direction of inventive activity: Economic and social factors (pp. 609–625). Princeton: Princeton University Press for NBER.Google Scholar
  12. Arrow, K. J. (1969). Classificatory notes on the production and transmission of technical knowledge. American Economic Review, 59, 29–35.Google Scholar
  13. Bloom, N., Draca, M., & Van Reenen, J. (2016). Trade induced technological change? The impact of Chinese imports on innovation, IT and productivity. Review of Economic Studies, 83(1), 87–117.CrossRefGoogle Scholar
  14. Bloom, N., Jones, C. I., Van Reenen, J., & Webb, M. (2017). Are ideas getting harder to find? (National Bureau of Economic Research Working Paper Series 23782).Google Scholar
  15. Byrne, D. M., Fernald, J. C., & Reinsdorf, M. B. (2016). Does the United States have a productivity slowdown or a measurement problem? Brookings Papers on Economic Activity, 1, 109–182.CrossRefGoogle Scholar
  16. Cowen, T. (2011). The great stagnation: How America ate all the low-hanging fruits of modern history got sick and will eventually feel better. London: A Penguin eSpecial from Dutton, Penguin.Google Scholar
  17. Dopfer, K., Potts, J., & Pyka, A. (2015). Upward and downward complementarity: The meso core of evolutionary growth theory. Journal of Evolutionary Economics, 26, 753–763.CrossRefGoogle Scholar
  18. Franzini, M., & Pianta, M. (2016). Explaining inequality. London: Routledge.Google Scholar
  19. Freeman, C., & Louca, F. (2001). As times goes by: From the industrial revolution to the information revolution. Oxford: Oxford University Press.Google Scholar
  20. Gallini, N. (2002). The economics of patents: Lessons from recent U.S. patent reform. Journal of Economic Perspectives, 16, 131–154.CrossRefGoogle Scholar
  21. Gordon, R. J. (2016). The rise and fall of American growth: The U.S. standard of living since the civil war. Princeton: Princeton University Press.Google Scholar
  22. Hayek, F. A. (1945). The use of knowledge in society. American Economic Review, 35(4), 519–530.Google Scholar
  23. Kogan, L., Papanikolaou, D., Seru, A., & Stoffman, N. (2017). Technological innovation resource allocation and growth. Quarterly Journal of Economics, 132(2), 665–712.CrossRefGoogle Scholar
  24. Jones, C. I. (2002). Sources of U.S. economic growth in a world of ideas. American Economic Review, 92(1), 220–239.Google Scholar
  25. Kuznetz, S. (1971). Economic growth of nations: Total output and production structure. Cambridge: Harvard University Press.CrossRefGoogle Scholar
  26. Mazzucato, M., & Jacobs, M. (2016). Rethinking capitalism: Economics and policy for sustainable and inclusive growth. Oxford: Wiley-Blackwell.Google Scholar
  27. Metcalfe, J. S. (2014). Capitalism and evolution. Journal of Evolutionary Economics, 24(1), 11–34.CrossRefGoogle Scholar
  28. Pagano, U. (2014). The crisis of intellectual monopoly capitalism. Cambridge Journal of Economics, 38(6), 1409–1429.CrossRefGoogle Scholar
  29. Pagano, U., & Rossi, M. A. (2009). The crash of the knowledge economy. Cambridge Journal of Economics, 33(4), 665–683.CrossRefGoogle Scholar
  30. Piketty, T. (2014). Capital in the 21st century. Cambridge: Harvard University Press.Google Scholar
  31. Posner, R. (2005). Intellectual property: The law and economics approach. Journal of Economic Perspectives, 19(2), 57–73.CrossRefGoogle Scholar
  32. Schumpeter, J. A. (1942). Capitalism, socialism and democracy. New York: Harper and Brothers.Google Scholar
  33. Schumpeter, J. A. (1946). John Maynard Keynes 1883–1946. American Economic Review, 36(4), 495–518.Google Scholar
  34. Schumpeter, J. A. (1947). The creative response in economic history. Journal of Economic History, 7, 149–159.CrossRefGoogle Scholar
  35. Stiglitz, J. E. (2008). Economic foundations of intellectual property rights. Duke Law Journal, 57, 1693–1724.Google Scholar
  36. Stiglitz, J. E., & Greenwald, B. C. (2014). Creating a learning society: A new approach to growth, development, and social progress. New York: Columbia University Press.Google Scholar
  37. Summers, L. H. (2014). U.S. economic prospects: Secular stagnation, hysteresis, and the zero lower bound. Business Economics, 49(2), 65–73.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Dipartimento Di Economia E Statistica Cognetti De Martiis, Collegio Carlo AlbertoUniversity of TurinTurinItaly

Personalised recommendations