Skip to content
Open global navigation

Cambridge University Press

AcademicLocation selectorSearch toggleMain navigation toggle
Cart
Register Sign in Wishlist

Doing Capitalism in the Innovation Economy
Markets, Speculation and the State

$35.99 (G)

  • Date Published: October 2012
  • availability: In stock
  • format: Hardback
  • isbn: 9781107031258

$35.99 (G)
Hardback

Add to cart Add to wishlist

Other available formats:
eBook


Looking for an examination copy?

This title is not currently available for examination. However, if you are interested in the title for your course we can consider offering an examination copy. To register your interest please contact collegesales@cambridge.org providing details of the course you are teaching.

Description
Product filter button
Description
Contents
Resources
About the Authors
  • The innovation economy begins with discovery and culminates in speculation. Over some 250 years, economic growth has been driven by successive processes of trial and error: upstream exercises in research and invention and downstream experiments in exploiting the new economic space opened by innovation. Drawing on his professional experiences, William H. Janeway provides an accessible pathway for readers to appreciate the dynamics of the innovation economy. He combines personal reflections from a career spanning forty years in venture capital, with the development of an original theory of the role of asset bubbles in financing technological innovation and of the role of the state in playing an enabling role in the innovation process. Today, with the state frozen as an economic actor and access to the public equity markets only open to a minority, the innovation economy is stalled; learning the lessons from this book will contribute to its renewal.

    • Draws on the author's professional experience to illustrate how the innovation economy was built
    • Challenges conventional wisdom of how to evaluate economic policies and the behaviour of financial markets
    • Mobilises empirical and theoretical scholarship to explore the political and financial history of the innovation economy
    Read more

    Reviews & endorsements

    Named one of the "Best Economics Books of the Year" by The Financial Times.

    "A rewarding memoir about the learning, training and life experience required to achieve mastery in the venture economy." – Kirkus Reviews

    “Bill Janeway, a key creator of modern venture capital, tells the amazing story of the intersection of economics and innovation. This book is essential to anyone who wants to understand technology and how its creation will be financed for decades to come." – Marc Andreessen, co-creator of the Internet browser, co-founder of Netscape and Andreessen Horowitz

    "This is a masterful historical and conceptual analysis of the Three Player Game between the state, private entrepreneurial innovation and financial capitalism. The state has a key role in funding scientific research that leads to innovation. Amply funded by financial capitalism, innovation is a source of long term growth. But speculative funding of innovation is also associated with asset and credit bubbles that end up in financial crashes. A Minsky-inspired synthesis of the financial excesses of Schumpeterian creative destruction, this book should be required reading for all." – Nouriel Roubini, Professor of Economics at New York University and Chairman of Roubini Global Economics

    "A revelatory exploration of the complex dynamics underlying the innovation economy and the inherent roles of speculation and waste as experienced by one of the great venture capitalists and political/economic thinkers of our age. This book provides a powerful framework for dealing with the economic challenges we are facing today. It couldn’t have come at a better time!" – John Seely Brown, Former Chief Scientist of Xerox Corp and Director of its Palo Alto Research Center (PARC)

    "Janeway applies keen insights from his experience as a venture capitalist and creates a vision of the interaction between governments, financiers, and firms that shows what institutions society must develop to foster innovation. I believe that Doing Capitalism will help all of us, whether academics, private sector leaders, or government officials, to see beyond shallow political dogma and move to a deeper understanding of challenges of technological advance." – George Soros, Chairman of Soros Fund Management

    " [. . .] a tour de force with a solid thesis, excellent writing and exposition, and a history that too many have forgotten . . . or never knew. Brilliant!" – John C. Bogle, Founder of Vanguard Funds

    See more reviews

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: October 2012
    • format: Hardback
    • isbn: 9781107031258
    • length: 340 pages
    • dimensions: 235 x 158 x 20 mm
    • weight: 0.68kg
    • contains: 2 b/w illus. 1 table
    • availability: In stock
  • Table of Contents

    Introduction
    Part I. Learning the Game:
    1. Apprenticeship
    2. Discovering computers
    3. Investing in ignorance
    Part II. Playing the Game:
    4. The financial agent
    5. The road to BEA
    6. Apotheosis
    Part III. Understanding the Game: The Role of Bubbles:
    7. The banality of bubbles
    8. Explaining bubbles
    9. The necessity of bubbles
    Part IV. Understanding the Game: The Role of the State:
    10. Where Is the state?
    11. 'The failure of market failure'
    12. Tolerating waste.

  • Author

    William H. Janeway
    William H. Janeway has been an active venture capital investor for forty years. In particular, he built and led the Warburg Pincus Technology Investment team that provided the financial backing to a series of companies which made critical contributions to building the internet economy. He received his PhD in Economics from the University of Cambridge, where he founded the Cambridge Endowment for Research in Finance, and is a Teaching Visitor in the Princeton University Economics Department. He is a member of the Board of the Social Science Research Council and of the Institute for New Economic Thinking. In September 2012 he was granted the honorary honour of Commander of the Order of the British Empire (CBE) by HM the Queen 'for services to education in support of Cambridge University and to UK/US relations'.

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

You are now leaving the Cambridge University Press website, your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Find content that relates to you

Join us online

© Cambridge University Press 2014

Back to top

Are you sure you want to delete your account?

This cannot be undone.

Cancel Delete

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×