The Valuation of Indigenous Knowledge in Current and Future Markets

Stream: Indigenous policy
Date: Monday, 9 September 2019
Time: 1.30 pm – 3.10 pm

Abstract

This paper presents findings from The Valuation of Indigenous Knowledge (IK) in Current and Future Markets project being undertaken for IP Australia by the Centre for Aboriginal Economic Policy Research, The Australian National University (ANU). IK includes Traditional Knowledge (TK, know-how, practices, skills and innovations developed by Indigenous Peoples including genetic resources etc.) and Traditional Cultural Expressions (TCEs, traditional languages, music, performance, art works, designs, stories etc.). One must balance the broader societal and national benefits from sharing IK with the need to ensure that IK is sufficiently protected and rewards and respects the creators and custodians of IK. In practice, this is a particularly complex task given the arguably hybrid nature of the Indigenous economy. Given the nature of IK, it is important to have a diverse system of governance of IK, including IP rights and protocols that respects the wishes of Indigenous Peoples. We initially find that a dual approach to the valuation of IK in markets is useful, with macro (broad economic view) and micro (case specific studies that are indicative on the main issues in particular markets) providing insights into the potential monetary value of IK in current and future markets. The question over the attribution of IK in any given industry needs to be considered within the context of the contribution made by all other factors .

Authors

Boyd Hunter (Presenter), The Australian National Univer
Boyd Hunter is a Senior Fellow at the Centre for Social Research and Methods, Research School of Social Sciences, Australian National University. He is currently President of the Australian Society of Labour Economics and a Fellow of IZA in Berlin. Boyd has been the Managing Editor and Editor of the Australian Journal of Labour Economics and the Australian Journal of Social Issues. His main area of research and teaching involve the economic history of ‘The Indigenous Economy’ and the implications for contemporaneous social and economic policy.

Boyd Blackwell (Presenter), The ANU
Dr Boyd Blackwell is a Senior Research Officer with Centre for Aboriginal Economic Policy Research, ANU, undertaking the Indigenous knowledge valuation project. He has over 20 years of experience in applied economics having valued a range of goods and services from beach recreation to World Heritage icon status, wastewater recycling and the impact of remote research and innovation. He was employed in the Cooperative Research Centre for Remote Economic Participation managed by Ninti One Ltd for almost seven years. He is also currently President of the Australia New Zealand Society for Ecological Economics and owns his own consulting business.