Is innovation always good for you? New policy challenges for research and innovation

Luc Soete*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterAcademic


Traditionally innovation is being associated with a positive image. At the policy level, it is practically impossible to be negative about innovation. Yet, the policy slogan ‘“Innovation is good for you’ remains surprising given that innovation failure rather than innovation success appears to have been the most common feature of innovation processes. Both the historical and international evidence highlights that innovation, and more broadly the introduction of new technologies, do not always represent Schumpeterian processes of ‘creative destruction’, that is, processes which renew a society’s dynamics leading to higher levels of economic development, destroying a few incumbents to the benefit of many, but now and then seem to represent the exact opposite pattern: processes of ‘destructive creation’ with innovation benefiting a few at the expense of many. The underlying causes for such destructive-creation processes and the policy challenges they pose call for close attention.
Original languageEnglish
Title of host publicationInternational Handbook on Responsible Innovation: A Global Resource
Place of PublicationCheltenham
PublisherEdward Elgar Publishing
Number of pages12
ISBN (Electronic)9781784718862
ISBN (Print)9781784718855
Publication statusPublished - 1 Jan 2019

JEL classifications

  • o31 - Innovation and Invention: Processes and Incentives

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