The Role of Money in Innovation and Growth

How money facilitates or hinders innovation and economic growth is a complex and important topic. The Institute will explore the importance of money as an incentive to innovation in the initial/creative phase, the role of money in the commercialization phase (regulatory burdens and all), and finally the role of money in the market expansion phase.  In the first phase, money enables exploration and tinkering and compensates creative effort, and in the latter phases, money also allows for navigation of/compliance with regulation and expansion, with possible regulatory capture. Better understanding the role of money along this trajectory will improve our understanding of how money affects rates of innovation and economic growth.