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Dramatic and controversial changes in the funding of science over the past two decades, towards its increasing commercialization, have stimulated a huge literature trying to set out an "economics of science." Whether broadly in favour or against these changes, the vast majority of these frameworks employ ahistorical analyses that cannot conceptualise, let alone address, the questions of "why have these changes occurred?" and "why now?" Nor, therefore, can they offer much insight into the crucial question of future trends. Given the growing importance of science and innovation in an age of...

But what is innovation? Usually, it is understood as new technologies that will 'solve' specific 'problems' - and, it is hoped, return life to a 'business as usual' of progress in individual freedom and wealth. But innovation is a thoroughly social process with profound implications for the arrangement of power...

The political economy of research and innovation (R&I) is one of the central issues of the early 21st century. 'Science' and 'innovation' are increasingly tasked with driving and reshaping a troubled global economy while also tackling multiple, overlapping global challenges, such as climate change or food security, global pandemics or energy security. But responding to these demands is made more complicated, because R&I themselves are changing. Today new global patterns of R&I are transforming the very structures, institutions and processes of science and innovation, and with it their...