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\nExploring New Economic Space | #6 | Venture Capital in the 21st Century\n

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\n\nPublisher:\n\nInstitute for New Economic Thinking\n\n\n
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\nWhat is the relationship between core general purpose technologies (e.g. steam engine, electricity, computers) and the sectors to which they are applied (e.g. railways, radio communications, e-commerce)? There is positive feedback...\nWhat is the relationship between core general purpose technologies (e.g. steam engine, electricity, computers) and the sectors to which they are applied (e.g. railways, radio communications, e-commerce)? There is positive feedback between innovation in core technologies and development and deployment in application sectors. The impact of technological innovation on the macroeconomy is often underestimated. As is the important role of the State in fostering both core technologies and application sectors. Finally, the lecture explores the relationship between innovative firms on the frontier and established firms with channels to markets. This returns to the Schumpeterian question of the source of new inventions, whether firms develop it internally or acquire it externally from other firms. Start-ups with innovative labor are a major source for other firms, validating the role of venture capital in feeding the overall innovation system.

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In this eight-part series, Bill Janeway investigates the relationship between #venturecapital and technological #innovation, and the interdependent roles of entrepreneurial firms, the mission-driven State and financial speculation in the overall innovation system.




Chapters








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Social Returns vs. Profits of Firms
0:45









The \"Killer App\" of the Railroads
1:23









\"General Purpose Technology\": Three-part Definition
2:24









Slow Diffusion of Steam: Supply Constraints
5:11









GPT's and Heterogeneous Economic Sectors
5:20









GPT Theory: SIRS and Extemalities
7:31













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Not yet Rated
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Media Length
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23:35
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Grade
Higher Ed
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Subjects
Science
9 more...
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Media Type
Instructional Videos
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Source:
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\nNew Economic Thinking\n\n
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Date
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2021
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Language
English
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Audiences
For Teacher Use
2 more...
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Usage Permissions
Fine Print: Educational Use
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Concepts

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electricity, innovation, economy, productivity, inventions
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Additional Tags

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venture capital, institute for new economic thinking, bill janeway, matthew kulvicki, nick alpha, venture capitalist, angel investing, silicon valley, venture capitalist day in the life, entrepreneur, unicorn bubble, venture capital documentary, stock market, inet, learn economics, amtrak joe, american railroads, general purpose technology, entrepreneur mindset, angel investing for beginners, tech investing, steam engine, application sector, tech bubble, positive feedback, steam power, needed information, 90th percentile, innovative labor, fixed cost, marginal cost, established firms, large firms, horizontal axis, external supply, external sources, internal inventions, market channels, core technology, firms, internal, core, infrastructure, invention, market
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