Publication

On the economics of social innovation - a conceptual framework and its policy implications

Dominique Foray
2020
Journal paper
Abstract

Social innovation addressing social, economic and environmental challenges are increasingly recognized as crucial drivers of social changes. However, the concept of social innovation remains vague. This paper builds a conceptual framework from an economic perspective: the main criterion for identifying a social innovation concerns the way the benefits generated by an innovation are distributed between the (private or public) innovator and society. We close the paper by an extensive discussion of the conceptual boundaries, the research agenda and the policy implications we can derive based on the Framework.

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Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions. The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business. It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived.
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Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
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