William Janeway: The Market or the State? (2/6)

The video discusses the innovation economy, emphasizing the importance of waste in the process. It breaks down the innovation process into three phases: discovery, deployment, and economic exploration. The speaker distinguishes between Keynesian and Schumpeterian waste, highlighting the role of the state in funding innovation. Historical examples, such as the role of monopolies and the impact of bubbles, are used to illustrate these concepts. The video concludes with a discussion on current challenges and the future outlook for innovation, particularly in clean tech.

What new insight or understanding did you gain from this video?