How do we judge the responsibility (or otherwise) of research and innovation?

Capital, Aristotle, and the neglected factor: freedom

Book chapter (2020)

Authors

C.W.M. Naastepad Economics of Technology and Innovation - TPM
Jesse M. Mulder Universiteit Utrecht
Research Group
Economics of Technology and Innovation (TPM) (TU Delft)
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Published Date

2020

Language

English

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Faculty

Technology, Policy and Management

Department

Values Technology and Innovation

Research Group

Economics of Technology and Innovation

Abstract

Missing in the debate on the ‘responsibility’ of research, innovation, and business is an examination of a possible conflict between the quest for ‘responsibility’ and the normative economic principles or ‘micro-economic foundations’ that guide the world’s financial capital and therefore determine which businesses, innovations and research are and which are not funded. As a result, much research and innovation that is deemed responsible will not materialise. We propose that such conflict can be resolved by re-examining our understanding of choice and capital, and by recognising mainstream economics’ utilitarian foundation – homo economicus − as an unduly restrictive version of a wider Aristotelian understanding of choice.