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SUMMARY:Patenting in an Entrepreneurial Region during the Great Depression
 :  The Case of Cleveland\, Ohio - Naomi Lamoreaux Stanley B. Resor Profess
 or of Economics and Professor of History\, Yale University
DTSTART:20190207T123000Z
DTEND:20190207T133000Z
UID:TALK109135@talks.cam.ac.uk
CONTACT:CERF/CF Admin
DESCRIPTION:This paper investigates the effect of a major macroeconomic sh
 ock\, the Great Depression\, on patenting in an innovative region. Clevela
 nd\, Ohio\, was a vibrant industrial city in the 1920s\, a hotbed of inven
 tive activity and small-scale startups in a range of important Second Indu
 strial Revolution industries.  One might expect a shock of the magnitude o
 f the Great Depression to have taken a serious toll on inventive activity\
 , especially in a region such as Cleveland’s\, where there were so many 
 small firms dependent on external finance.  We explore this issue by compa
 ring the career patenting records of two cohorts of Cleveland patentees wh
 o obtained a threshold number of inventions during the years 1910-12 and 1
 928-30 and find remarkably little effect of the Depression on patenting.  
 We then look at the patenting careers of graduates from the Case School of
  Applied Science.  Only when we focus on the students who graduated in the
  midst of the Depression do we find a significant effect.  We conclude tha
 t an important negative consequence of the Depression was to prevent a new
  generation of inventors from forming to carry on the region’s innovativ
 e tradition.
LOCATION:Castle Teaching Room\, Cambridge Judge Business School
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