Traditional economics views growth as an aggregate phenomena and leaves the major driver of growth - the advancement of human knowledge - largely unexplained. INET Oxford, in collaboration with a number of scholars around the world, is leading several projects that are attempting to develop a bottom-up theory of growth that is empirically grounded and has a truly endogenous view of innovation. At the core of the work is the idea that the economy is a constantly evolving network of technologies that make possible networks of productive capabilities, that in turn enable the creation of products and services. It is the evolution of these networks, the search for new combinations of technologies, capabilities, and products in enormous combinatorial spaces of possibility, that drives economic growth. Our research is also examining the implications of this "bottom-up" view for policies for growth and innovation, as well as implications for inequality and sustainability.
INET Oxford's Research Themes
Economic Growth and Innovation
Employment, Equity and Growth
We show that while rich countries have faced common challenges in an era of globalization and rapid technological change, some sets of institutions and policy responses proved more capable than others in still underpinning widely-share improvements in incomes and living standards.
Forecasting Technological Progress
In this project we are using networks and time series analysis to analyse performance curves and the large historical records of patenting activity to map the evolution of technological ecosystems.
How Ecological Properties Of Economic Production Networks Amplify Growth
In this project we developed a theory for the amplification of technological improvement by the production network structure of the economy.
Our World in Data
On this web publication we are presenting the long-term research on how and why living conditions around the world are changing.
No. 2020-02 - Can stimulating demand drive costs down? World War II as a natural experiment
01 Jun 20
Our results indicate that decreases in cost can be attributed roughly equally to the growth of exper...
We need an ‘emergency survey’ based on random samples. Urgently.
01 Apr 20
During times of massive socio-economic change, it should be possible to quickly launch an emergency ...
No.2020-04 - Technological interdependencies predict innovation dynamics
02 Mar 20
We propose a simple model where the innovation rate of a technological domain depends on the innovat...
Learning From Automation Anxiety of the Past
12 Nov 19
Much like during the industrial revolution, today’s automation anxiety is entirely justified. But hi...
No. 2019-14 - Measuring productivity dispersion: a parametric approach using the Lévy alpha-stable distribution
02 Oct 19
We examine in detail the distribution of labor productivity levels and growth, and observe that they...
The Technology Trap: Capital, Labor, and Power in the Age of Automation
18 Jun 19
How the history of technological revolutions can help us better understand economic and political po...
No. 2019-09 - Has the Middle Secured Its Share of Growth or Been Squeezed?
17 Jun 19
In striking contrast to the notion that democracy is under threat because ‘the middle’ has been ‘squ...
No. 2019-07 - Inequality and Real Income Growth for Middle and Low-income Households Across Rich Countries in Recent Decades
06 Jun 19
This paper places what has happened to income inequality in rich countries over recent decades along...
No. 2019-08 - Firm Heterogeneity and the Aggregate Labour Share
04 Jun 19
Using a static model of firm behaviour with imperfect competition on the product and labour markets,...
Giving up on Growth? On the Validity of Post-Growth Arguments (in German)
28 May 19
No. 2019-04 - What Happened to the 'Great American Jobs Machine'?
18 Apr 19
In the 1980s and 1990s the US employment rate increased steadily. Since then it has declined both in...
Wright meets Markowitz: How standard portfolio theory changes when assets are technologies following experience curves
01 Apr 19
We apply portfolio theory to technologies following experience curves.
Dr Carl Benedikt Frey: Saving labour: automation and its enemies
28 Feb 19
In this talk Dr Carl Benedikt Frey will discuss the societal consequences of the accelerating pace o...
Long-run dynamics of the U.S. patent classification system
04 Jan 19
We argue that classification system changes and patent reclassification are common and reveal intere...
2. Background and data 3. Empirical strategy and results 4. Conclusions Appendix A. Supplementary materials Research Data References Figures (4) Fig. 1. Uber’s rollout in the United States Fig. 2. The spatial diffusion of Uber in the United States Fig. 3
01 Nov 18
A frequent belief is that the rise of so-called “gig work” has led to the displacement of workers in...
Prof Chris Magee: How useful and reliable is a simplified perspective on Technological Change?
24 Oct 18
Chris Magee will share a perspective that can help all of us better understand the complex pattern o...
Inequality and ordinary living standards in rich countries
03 Aug 18
Country contexts really matter, and policy responses must be framed in light of the institutional po...
How well do experience curves predict technological progress? A method for making distributional forecasts
01 Mar 18
We develop a method to make distributional forecasts using experience curves.
INET Briefing Note: Women Leading UK Employment Boom
28 Feb 18
Early identification of important patents through network centrality
24 Feb 18
We evaluate the ability of centrality metrics to early-identify significant patents.
Policy Brief—Encouraging Innovation that Protects Environmental Systems: Five Policy Proposals
19 Jan 18
Human innovations have created widespread human prosperity. However, they are also threatening the g...
Inequality and Prosperity in the Industrialized World: Addressing a Growing Challenge
01 Sep 17
On average, income inequality within developing economies is very high, particularly in Africa, and ...
Leapfrogging: A Survey of Nature and Economic Implications of Mobile Money
15 Jan 17
Dr Craig Holmes: Skills, education and work in the digital age
01 Nov 16
Our rapidly changing technological landscape is having a massive impact on social and economic inequ...
No. 2016-03 - GDP per capita versus median household income: What gives rise to divergence over time?
24 May 16
No. 2016-02 - Automation and the Welfare State: Technological Change as a Determinant of Redistribution Preferences
11 May 16
How Predictable is Technological Progress?
01 Apr 16
A generalized version of Moore's law for unit costs is modelled as a correlated geometric random wal...
Lord Adair Turner: Between debt and the devil: money, credit, and fixing global finance
01 Nov 15
Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth,...
Self-organization of Knowledge Economies
01 Mar 15
This paper analyzes the structure of who knows what by deriving the distribution of ideas׳ popularit...
INET Oxford Highlights Report 2012-2014
29 Jan 15
How to Prevent the End of Economic Growth
01 Jan 15
How the digital economy could lead to secular stagnation