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The Innovation Economy

  • The Free Enterprise Group
  • Kwasi Kwarteng
  • Ryan Bourne
  • Jonathan Dupont

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 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 18.
    Matt Ridley, The Rational Optimist (New York: HarperCollins, 2010), p. 113.Google Scholar
  2. 36.
    Tyler Cowen, Average Is Over (New York: Penguin, 2013), p. 43.Google Scholar

Copyright information

© Kwasi Kwarteng, Ryan Bourne, Jonathan Dupont 2015

Authors and Affiliations

  • The Free Enterprise Group
    • 1
  • Kwasi Kwarteng
  • Ryan Bourne
    • 2
  • Jonathan Dupont
    • 3
  1. 1.UK
  2. 2.Institute of Economic AffairsUK
  3. 3.Policy ExchangeUK

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