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In its continuing quest for competitiveness in world markets, the EU has recently moved away from a technology policy towards an innovation policy. In other words, from a strategy almost entirely focused on supporting collaborative alliances, the EU now has a broader policy vision which aims to engender a positive institutional environment for European innovators. This fresh policy direction has forced the EU to take a novel approach to understanding the relationship between public action and the innovation process at both the national and European level. Adopting a strong interdisciplinary approach, the author skilfully examines the politics and economics of the new innovation policy of the EU, addressing such diverse topics as research and knowledge production, the changing regime of intellectual property rights, building the information society, standard setting, risk assessment and the social sustainability of innovation. The conclusions pose many theoretical questions which will require further research, most notably the extent to which EU innovation policy underpins a European system of innovation. This book will be an invaluable source of reference for academics and researchers interested in the economics of innovation, EU political economy, science, technology and politics. It will also help policy makers to understand the complex interactions between regional, national and supranational innovation policy.