How to get knowledge out of the ivory tower?

Technology transfer is a big topic for scholars and policy makers.We would like to know how we can harvest the knowledge and ideas that are produced at universities and research institutes and to make them available to society. The invention of new technologies is only a first step. They need to be commercialized as innovative products and services to further foster a society’s wealth. Especially Europe could do better here. Continue reading How to get knowledge out of the ivory tower?

What’s wrong with policy advice?

John Cochrane recently released a blog post about the discrepancy between academic work and policy advice in macroeconomics. He criticizes that consulting for the policy world is most often based on economic methodology such as static IS-LM/AS-AD models. These date back 40 years and have largely disappeared from the academic landscape.

This current state is puzzling. At least one of the reasons why we do economic research is to better guide policy makers to more sensible interventions to the economy. So either “academic research ran off the rails for 40 years producing nothing of value” or we hold back the diamonds for our little elite circle in the ivory tower. I have seen quite some policy related work myself. Thus,  I want report from my own field – innovation economics. Continue reading What’s wrong with policy advice?