Reconsidering Innovations

Abstract

　The concept of innovation is reconsidered getting back to Schumpeter. This leads to a reconsideration of the mechanism of realising profit and economic growth in the capitalistic economy. For getting profit from innovations, both new knowledges and their commercializations are indispensable.

　Until the early 20th century, American big firms often commercialized the knowledes invented by indivisuals. From 1930s to 1960s, both getting knowledges and commercialing them were realized in a same company. This was the age of central research laboratories. After 1970s, academic entrepreneurs have actively launched start-ups on the basis of university-generated knowledges. This is greatly contributing to the American economy.

　From the end of the second world war to 1950s, sources of the Japanese economic growth was the import of foreign technologies. After 1960s, Japanese big firms adopted the system of central research laboratories. At the time of so-called the bubble economy (around 1990), Japanese industries were actively engaged with basic researches. Then after, however, Japanese companies have reduced R&D activities under the long-lasting decline of the economy. University-driven knowledeges and university-based entrepreneurs are now expected to contribute to Japanese economy. However, the resulting Japanese economy is not on the road of growth, mostly brcause Japanese innovation policies are too much research-oriented and socialistic.