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Open Innovation ResultsGoing Beyond the Hype and Getting Down to Business$
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Henry Chesbrough

Print publication date: 2019

Print ISBN-13: 9780198841906

Published to Oxford Scholarship Online: December 2019

DOI: 10.1093/oso/9780198841906.001.0001

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The Exponential Paradox

The Exponential Paradox

(p.6) 1 The Exponential Paradox
Open Innovation Results

Henry Chesbrough

Oxford University Press

Technology is advancing at an accelerating rate. Yet the rate of economic productivity growth is slowing down. This is the Exponential Paradox. It is not enough for technology to advance; in order to deliver economic and social value, technology most also be broadly disseminated, and then absorbed. Further insight can be achieved if we look back farther in time. Why was productivity growth so high during the 1940s to the 1970s? Part of the answer lies in the substantial investments made in infrastructure that fostered more rapid technical advance, and equally, wider technology dissemination and absorption. A renewed investment in innovation infrastructure is needed, in order to resolve the Exponential Paradox. Companies can start by emphasizing Shared Value approaches to developing and deploying their technologies.

Keywords:   Exponential Paradox, productivity, innovation infrastructure, innovation generation, innovation absorption, innovation dissemination, Shared Value

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