Review of Michael Carrier's 'Innovation in the 21st Century'

Abstract:     
This essay reviews Michael Carrier's recent book, Innovation in the 21st Century. While the book is well-written and full of accessible content, it nevertheless fails in its ambitious effort to defend the concept of an antitrust-relevant "innovation market." The essay notes that there is considerable uncertainty about the relationship between regulation and innovation, and suggests that Carrier is insufficiently sensitive to the limitations of his analysis.

Number of Pages in PDF File: 6

Keywords: Antitrust, Innovation, Michael Carrier, Innovation Market, Error Cost, Pharmaceuticals, Patents

JEL Classification: K10, K21, L11, L12, L40, L65, O31, O34

Accepted Paper Series