The Social Value of Innovation – A Global Comparative Advantage for Europe
2026-04-16
EASSH discusses the constraints on policy design and implementation created by existing rigid frameworks that include metrics focussing only on the economic benefits of policymaking, and in so doing prevent realisation of the full social value.
European policy rhetoric promotes the need to maintain a balance between economic growth and the social value of innovation. But sometimes, perhaps too often, the good intentions captured in the rhetoric are not realised in the implementation of policies.
It is of paramount importance that we revisit our metrics for innovation to grow European competitiveness globally. Drawn from recent research in the social sciences and humanities (SSH), this paper demands a human-centric approach to innovation in EU funding.
The paper addresses the following:
- Reframing competitiveness
- The limits of GDP and financially centred measurement
- Why profit is an incomplete indicator of value
- Public policy and the need for broader metrics
- Conclusion: Redefining value in European innovation policy.