Bridges and Barriers: How Politics Impacts Innovation Towards Sustainability

In his groundbreaking study, Adam Smith highlighted how self-interest and competition are key drivers of economic development and enhance the well-being of society (Smith, 1776). Over a century after Smith, Pigou presented the concept of externalities (Pigou, 1920) describing them as the unaccounted costs or benefits affecting uninvolved parties, thus underscoring a potential tension between economic growth and societal welfare. On the other hand, innovation is introduced as a crucial driver for economic prosperity and growth at the macro level (Schumpeter, 1934). Yet, this primary engine of growth also plays a role in intensifying major issues like climate change and social inequalities, which emerge as unintended consequences of economic progress. At the organizational level, balancing sustainability with innovation can also create conflicts.

This symposium discusses how innovation can help tackle these critical sustainability challenges