Bennet Woodcroft and the value of English patents, 1617–1841 |
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Authors: | Alessandro Nuvolari Valentina Tartari |
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Affiliation: | aLaboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Piazza Martiri della Liberta' 33, 56127, Pisa, Italy;bInnovation and Entrepreneurship Group, Imperial College Business School, Imperial College, South Kensington Campus, London, SW7 2AZ, United Kingdom |
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Abstract: | We examine the potentialities of a new indicator measuring the value of English patents in the period 1617–1841. The indicator is based on the relative visibility of each individual patent in the contemporary technical and legal literature as summarized in Bennet Woodcroft's Reference Index of Patents of Invention. We conclude that the indicator provides a reasonable proxy for the value of patents and that it can be usefully employed to shed light on the timing and scope of innovation during the Industrial Revolution. In particular, our indicator offers a suitable reconciliation between the patent records evidence and the Crafts–Harley view of the Industrial Revolution. |
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Keywords: | Patents Invention Industrial Revolution England |
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