Entrepreneurship and Innovation in Evolving Economies

Entrepreneurship and Innovation in Evolving Economies

The Role of Law

Elgar Law and Entrepreneurship series

Edited by Megan M. Carpenter

Entrepreneurship and Innovation in Evolving Economies examines the role of law in supporting innovation and entrepreneurship in communities whose economies are in transition. It contains a collection of works from different perspectives and tackles tough questions regarding policy and practice, including how support for entrepreneurship can be translated into policy. Additionally, this collection addresses more concrete questions of practical efficacy, including measures of how successful or unsuccessful legal efforts to incentivize entrepreneurship may be, through intellectual property law and otherwise, and what might define success to begin with.

Chapter 7: Contrasts in Innovation: Pittsburgh Then and Now

Michael J. Madison

Subjects: business and management, entrepreneurship, development studies, law and development, law - academic, law and development

Extract

Michael J. Madison* INTRODUCTION I Discussion and analysis of law, public policy, and economic growth is often predictive, and often national or global. Tweak a rule or doctrine here, perhaps patent law or tax law or financial and securities regulation, and anticipate growth there—in the United States, or in India, or around the world. This chapter approaches the question of growth from a different angle, working backward from an example of economic development to understand, if possible, what accounted for it, and focusing on regional rather than national or global growth. My subject is Pittsburgh, Pennsylvania, U.S.A. I offer a descriptive account of one city’s and region’s work in progress in transitioning from Rust Belt collapse to Rust Belt chic,1 or what President Barack Obama characterized as a “model for the future” in its transition to a diverse economy,2 when he decided that the city would be the North American host of the September 2009 summit of the Group of 20 (G-20) finance ministers.3 * Portions of this chapter first appeared as a series of posts at Pittsblog 2.0, a weblog, at http://pittsblog.blogspot.com, over several days in September 2009. Thanks to Megan Carpenter for her interest in this work and to colleagues at the Evolving Economies conference at Texas Wesleyan University School of Law in April 2011, where a version of the work was presented. 1 See Tod Newcombe, The Rust Belt Has Arrived, at Governing: Connecting America’s Leaders, Feb. 2011, available at http://www.governing.com/columns/ urban-notebook/Rust-Belt-Arrived.html (last...

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