From public health crises to climate change, innovation and the capacity to generate big ideas are necessary to solve big problems and power long-run growth. Developing technologies to produce new vaccines, clean energy, and a host of other advancements can help meet these imperatives while also raising productivity and living standards over time. Public investment and policy changes—from boosting effective R&D investments to making a better use of talent to reforming the patent system—can facilitate the infrastructure investments and institution-building needed to accelerate this progress.
On Wednesday, June 17, The Hamilton Project at the Brookings Institution hosted a webcast discussing how public policy initiatives can spur the innovations that lead to long-term economic growth and productivity. The event coincided with the release of a framing paper and three new Hamilton Project proposals that focus on expanding the innovation pipeline and reforms to make the patent system work better for innovators.
The event featured framing remarks by Paul Romer, co-recipient of the 2018 Nobel Prize in Economic Sciences and university professor in economics at NYU, followed by a panel discussion.
Panel discussants included Hamilton Project proposal authors: Lisa D. Cook of Michigan State University, John Van Reenen of MIT Sloan School of Management, and Heidi Williams of Stanford University. The discussion was moderated by Jay Shambaugh of The Hamilton Project.
2:00 p.m. Framing remarks
Co-Recipient of the 2018 Nobel Prize in Economic Sciences; University Professor in Economics at NYU
2:15 p.m. Roundtable discussion
Lisa D. Cook
Professor, Department of Economics and Department of International Relations, Michigan State University
John Van Reenen
Gordon Y. Billard Professor in Management and Economics, MIT Sloan School of Management
Charles R. Schwab Professor of Economics, Stanford University
Moderator: Jay Shambaugh
Director, The Hamilton Project, Senior Fellow, Economic Studies, The Brookings Institution