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In this booklet, Eric von Hippel, writer of the important Democratizing Innovation, integrates new theory and research studies into the framework of the "free innovation paradigm." Free innovation, as he identifies it, involves inventions developed by consumers who are self-rewarded for their initiatives, and who give their designs away "for free." It really is an inherently simple grassroots innovation process, unencumbered by compensated ventures and intellectual property privileges. Free innovation has already been widespread in nationwide economies and is also gradually increasing in both level and opportunity. Today, tens of an incredible number of individuals are collectively spending tens of billions of dollars annually on innovation development. However, because free inventions are developed during consumers' unpaid, discretionary time and are given away somewhat than sold, their collective impact and value have until very recently been concealed from view. This has caused researchers, governments, and firms to target too much on the Schumpeterian notion of innovation as a producer-dominated activity. Free innovation has both advantages and drawbacks. Because free innovators are self-rewarded by such factors as personal power, learning, and fun, they often pioneer new areas before producers see commercial potential. At exactly the same time, because they provide away their inventions, free innovators generally have very little incentive to invest in diffusing what they create, which reduces the interpersonal value of the efforts. The very best solution, von Hippel and his fellow workers claim, is a department of labor between free innovators and producers, allowing each to do what they do best. The result will be both increased designer revenue and increased interpersonal welfare - a gain for all.
