The Open University Professor of the Economics of Innovation and FINNOV project coordinator Mariana Mazzucato said: “Financial markets are creating a very short-term set of goals, which is stifling innovation and creating huge problems for our economy. Rather than being rewarded for innovation, businesses are penalised.” more
For a truly innovative and growth oriented 2010, Professor Mazzucato suggests: • Investment in radical new products at an early stage (as practised by the National Institutes of Health in the USA) • Long-term funding instead of short-term profit taking • More risk taking to encourage truly innovative and beneficial results • More emphasis by… more
Professor Mariana Mazzucato (The Open University) has been awarded €1.49 million by the European Commission to co-ordinate FINNOV – a new research project aimed at understanding the sources, implications and management of positive and negative changes in financial markets. more