Submitted by D. Mason on Thu, 18/12/2025 - 14:21
The Department of Politics and International Studies (POLIS) is pleased to announce the publication of a new book by Dr James Wood, Associate Teaching Professor in Political Economy, titled States of Innovation: Driving the American Economy in the 21st Century (Bristol University Press).
In 'States of Innovation', Dr Wood challenges the conventional narrative of the United States as a purely market-driven economy. He introduces the concept of the ‘Polycentric Innovation State’ to reveal the often-overlooked but catalytic role that both federal and state governments play in steering innovation-led growth. Through a detailed comparative analysis of four states—California, Michigan, Maine, and Texas—the book explores how regional authorities pursue diverse strategies based on their state’s unique comparative advantages to foster innovative high-value sectors.
Commenting on the book’s contribution to the field, Dr Wood said:
“We tend to think of American capitalism as uniquely market-driven, but this misses the full story. The US has developed a sophisticated, multi-level system of catalytic public investment that doesn't fit neatly into existing categories; it's neither the developmental state of East Asian economies nor pure laissez-faire. Understanding this 'Polycentric Innovation State' is essential for explaining how governments can support innovation-led growth.”
The book has already received praise from leading scholars. Colin Hay (Sciences Po) described it as a "powerful, original account... iconoclastic in its implications and highly persuasive," and Elvira Uyarra (University of Manchester) called it a "compelling multi-scalar analysis" that reveals the true nature of the US innovation ecosystem.
Dr James Wood is a Fellow of Trinity Hall and the HSPS Director of Studies. He was recently awarded the 2024 Aaron Rapport Teaching Prize for his outstanding contributions to undergraduate and postgraduate teaching within the Department. His research focuses on Comparative Political Economy, with particular interests in the politics of innovation, house prices, household debt, and the legitimation of economic policymaking.
States of Innovation: Driving the American Economy in the 21st Century is available now through Bristol University Press and major booksellers.
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