Abstract
Pervasive new technologies associated with information and communication technologies and software are dominated by a restricted oligopoly of US-based corporations. The challengers are no longer European firms, but rather Japanese or Chinese companies. The actions taken by the EU to fill this technology gap, including the Framework Programmes for research and technological development, are beneficial but still insufficient in terms of the resources committed. This article argues that the EU urgently needs to add another economic policy instrument to defy these incumbent firms, namely to create a few publicly supported large corporations in the areas of greater scientific and technological opportunities. This will be complementary to the already ongoing mission-oriented innovation policies. While there are the political and economic difficulties of implementing such a strategy, one recalls the pioneering venture of Airbus, established more than 50 years ago that has successfully managed to challenge the dominant US-based passenger aircraft producers despite several economic and political controversies. Could similar attempts be replicated for green technologies, healthcare services and artificial intelligence?
Highlights
There is a consensus that Europe will start a solid recovery after the COVID-19 crisis only if supported by remarkable direct government intervention
We know that the EU is composed of very heterogeneous countries; while research and development (R&D) intensity, i.e. R&D expenditure as a percentage of GDP, is high in some member states, others are lagging
A crucial role has been devoted to supporting information and communication technology (ICT) clusters, perhaps because they were considered an enabling technology on which the overall economic prosperity depended
Summary
Pervasive new technologies associated with information and communication technologies and software are dominated by a restricted oligopoly of US-based corporations. This article argues that the EU urgently needs to add another economic policy instrument to defy these incumbent firms, namely to create a few publicly supported large corporations in the areas of greater scientific and technological opportunities. This will be complementary to the already ongoing mission-oriented innovation policies. Daniele Archibugi, IRPPS – Italian National Research Council, Rome, Italy; and Birkbeck, University of London, UK. Vitantonio Mariella, IRPPS – Italian National Research Council, Rome, Italy. Most notably those made available with the Recovery Fund, support and boost economic, technological, social and cultural development
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