Innovation and the Global Financial Crisis: Systemic Consequences of Incompetence

Karl-Erik Sveiby

Innovation and the Global Financial Crisis: Systemic Consequences of Incompetence

Karl-Erik Sveiby

Management and Organisation, Helsinki

Research output: Chapter in Book/Report/Conference proceeding › Chapter › Scientific › peer-review

Abstract

Intense innovation has changed the ﬁ nancial sector dramatically in the last 30 years. Rajan (2005) identiﬁ es four main drivers: regulation-deregulation, which generates ‘circumventive’ product development (Holland, 1975); institutional change caused by deregulation; globalization made possible by information and communication technology (ICT); and general technical change mainly due to ICT. Beneﬁ ts of innovation are commonly regarded as an open-ended, linear function of innovation volume and intensity: ‘faster diff usion means a higher societal return’ (Frame & White, 2004, p. 118). Yet we know that practically all innovations also have less beneﬁ cial consequences, which often are systemic in nature, and this reduces the net value for users and at least some members of society (see chapter 4 in this book).

Original language	English
Title of host publication	Challenging the Innovation Paradigm
Editors	Karl-Erik Sveiby, Pernilla Gripenberg, Beata Segercrantz
Number of pages	30
Place of Publication	New York
Publisher	Routledge
Publication date	2012
ISBN (Print)	978-0-415-52275-5
ISBN (Electronic)	978-0-203-12097-2
Publication status	Published - 2012
MoE publication type	A3 Book chapter

Publication series

Name	Routledge Studies in Technology, Work and Organizations
Publisher	Routledge
Volume	9

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 9 Industry, Innovation, and Infrastructure
SDG 12 Responsible Consumption and Production
SDG 13 Climate Action

Keywords

512 Business and Management

Access to Document

http://www.routledge.com/books/details/9780415522755/

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Cite this

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Innovation and the Global Financial Crisis: Systemic Consequences of Incompetence . / Sveiby, Karl-Erik.
Challenging the Innovation Paradigm. ed. / Karl-Erik Sveiby; Pernilla Gripenberg; Beata Segercrantz. New York: Routledge, 2012. (Routledge Studies in Technology, Work and Organizations; Vol. 9).

Research output: Chapter in Book/Report/Conference proceeding › Chapter › Scientific › peer-review

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Innovation and the Global Financial Crisis: Systemic Consequences of Incompetence

Abstract

Publication series

UN SDGs

Keywords

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