{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Exploring New Economic Space | #6 | Venture Capital in the 21st Century' data-url='/boclips/videos/6278ecddd3655847a00979d1' data-video-url='/boclips/videos/6278ecddd3655847a00979d1' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nExploring New Economic Space | #6 | Venture Capital in the 21st Century\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30357122\" href=\"/search?publisher_ids%5B%5D=30357122\"\u003eInstitute for New Economic Thinking\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eWhat is the relationship between core general purpose technologies (e.g. steam engine, electricity, computers) and the sectors to which they are applied (e.g. railways, radio communications, e-commerce)? There is positive feedback...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eWhat is the relationship between core general purpose technologies (e.g. steam engine, electricity, computers) and the sectors to which they are applied (e.g. railways, radio communications, e-commerce)? There is positive feedback between innovation in core technologies and development and deployment in application sectors. The impact of technological innovation on the macroeconomy is often underestimated. As is the important role of the State in fostering both core technologies and application sectors. Finally, the lecture explores the relationship between innovative firms on the frontier and established firms with channels to markets. This returns to the Schumpeterian question of the source of new inventions, whether firms develop it internally or acquire it externally from other firms. Start-ups with innovative labor are a major source for other firms, validating the role of venture capital in feeding the overall innovation system.\u003cbr/\u003e\u003cbr/\u003e--\u003cbr/\u003e\u003cbr/\u003eIn this eight-part series, Bill Janeway investigates the relationship between #venturecapital and technological #innovation, and the interdependent roles of entrepreneurial firms, the mission-driven State and financial speculation in the overall innovation system.\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    \u003cbr/\u003e      Chapters\u003cbr/\u003e      \u003cbr/\u003e    \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e  View all\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e    \u003cbr/\u003e       \u003cbr/\u003e    \u003cbr/\u003e    \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e      \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    Social Returns vs. Profits of Firms\u003cbr/\u003e    0:45\u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e      \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    The \"Killer App\" of the Railroads\u003cbr/\u003e    1:23\u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e      \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    \"General Purpose Technology\": Three-part Definition\u003cbr/\u003e    2:24\u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e      \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    Slow Diffusion of Steam: Supply Constraints\u003cbr/\u003e    5:11\u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e      \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    GPT's and Heterogeneous Economic Sectors\u003cbr/\u003e    5:20\u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e      \u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    GPT Theory: SIRS and Extemalities\u003cbr/\u003e    7:31\u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e  \u003cbr/\u003e  \u003cbr/\u003e    \u003cbr/\u003e       \u003cbr/\u003e    \u003cbr/\u003e    \u003cbr/\u003e  \u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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