How to Innovate, What to Regulate: Conference Introduction

Professor Michael Mainelli gives the introduction for the 2013 Long Finance Spring Conference, focussing on the tension between the expanding frontiers of innovation and the limits of regulation. He opens by looking at how we define innovation, its relationship to success, and its source. Professor Mainelli goes on to look at the different patterns of innovation that regulation and standards can mould, before stressing that given the evolution in markets provided by innovation, we should look to encourage bio-diversity in markets (by lowering risk, improving infrastructure and safe-guarding competition).