Book Talk | Doing Capitalism in the Innovation Economy

NYU’s Institute for Public Knowledge invites you to join us for a talk with William Janeway about his book Doing Capitalism in the Innovation Economy. The author will be in conversation with Til Schuermann.

The innovation economy begins with discovery and culminates in speculation. Over some 250 years, economic growth has been driven by successive processes of trial and error: upstream exercises in research and invention and downstream experiments in exploiting the new economic space opened by innovation. Drawing on his professional experiences, William H. Janeway provides an accessible pathway for readers to appreciate the dynamics of the innovation economy. He combines personal reflections from a career spanning forty years in venture capital, with the development of an original theory of the role of asset bubbles in financing technological innovation and of the role of the state in playing an enabling role in the innovation process. Today, with the state frozen as an economic actor and access to the public equity markets only open to a minority, the innovation economy is stalled; learning the lessons from this book will contribute to its renewal.

William H. Janeway is a Senior Advisor and Managing Director of Warburg Pincus. He joined Warburg Pincus in 1988 and was responsible for building the information technology investment practice. Previously, he was executive vice president and director at Eberstadt Fleming. Dr. Janeway is a director of Magnet Systems and O’Reilly Media. He is an Affiliated member of the Faculty of Economics at Cambridge University. Dr. Janeway is a co-founder and member of the board of governors of the Institute for New Economic Thinking. He is a member of the board of directors of the Social Science Research Council and of the Field Institute for Research in the Mathematical Sciences and of the Advisory Board of the Princeton Bendheim Center for Finance. He is a member of the management committee of the Cambridge-INET Institute, University of Cambridge and a Member of the Board of Managers of the Cambridge Endowment for Research in Finance (CERF). He is the author of Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators, and the State, the 2nd edition of the book initially published by Cambridge University Press in November 2012.

Til Schuermann is Partner and Co-Head of Risk & Public Policy practice for the Americas at Oliver Wyman. Til advises private and public sector clients on stress testing, capital planning, enterprise-wide risk management, model risk management, and corporate governance including board effectiveness. He previously served as Senior Vice President at the Federal Reserve Bank of New York where he held numerous positions, including head of Financial Intermediation in Research and head of Credit Risk in Bank Supervision. Schuermann is a member of the Federal Reserve Bank of New York’s Financial Advisory Roundtable, serves on the advisory board of the NYU Courant Institute Mathematical Finance program, and is a Research Fellow at the Wharton School.