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Learning from overrated mission-oriented innovation policies: Seven takeaways
Research Institute of Industrial Economics (IFN), Stockholm, Sweden.
Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Media, Management and Transformation Centre (MMTC). The Ratio Institute, Stockholm, Sweden.ORCID iD: 0000-0002-8625-8744
Research Institute of Industrial Economics (IFN), Stockholm, Sweden.
2024 (English)In: Moonshots and the new industrial policy: Questioning the mission economy / [ed] M. Henrekson, C. Sandström & M. Stenkula, Cham: Springer, 2024, p. 235-255Chapter in book (Refereed)
Sustainable development
00. Sustainable Development, 8. Decent work and economic growth, 9. Industry, innovation and infrastructure
Abstract [en]

This chapter integrates findings from several different case studies on mission-oriented innovation policies (MOIPs) and makes use of the existing literature to briefly describe three other missions: The War on Cancer, homeownership in the United States, and the Swedish Million Program. Together with the analyses in the other chapters of this volume, seven takeaways regarding mission-oriented innovation policies are developed and described: (1) wicked problems cannot be solved through missions, (2) politicians and government agencies are not exempt from self-interest, (3) MOIPs are subject to rent seeking and mission capture, (4) policymakers lack information to design MOIPs efficiently, (5) MOIPs distort competition, (6) government support programs distort incentives and result in moral hazard, and (7) MOIPs ignore opportunity costs. These seven takeaways are illustrated using the cases described in this chapter and elsewhere in this volume.

Place, publisher, year, edition, pages
Cham: Springer, 2024. p. 235-255
Series
International Studies in Entrepreneurship, ISSN 1572-1922, E-ISSN 2197-5884 ; 56
Keywords [en]
Mission-oriented, Innovation policy, Rent seeking, Failure, Public choice
National Category
Business Administration Economics
Identifiers
URN: urn:nbn:se:hj:diva-63887DOI: 10.1007/978-3-031-49196-2_13Scopus ID: 2-s2.0-85184411501ISBN: 978-3-031-49195-5 (print)ISBN: 978-3-031-49198-6 (print)ISBN: 978-3-031-49196-2 (electronic)OAI: oai:DiVA.org:hj-63887DiVA, id: diva2:1847451
Funder
Jan Wallander and Tom Hedelius Foundation and Tore Browaldh FoundationThe Kamprad Family FoundationMarianne and Marcus Wallenberg FoundationKnowledge FoundationAvailable from: 2024-03-27 Created: 2024-03-27 Last updated: 2024-03-27Bibliographically approved

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Sandström, Christian

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