Innovation policies are usually expected to contribute to growth in economic performance,
in productivity, or in employment. These ultimate objectives are formulated in the political
arena; therefore, the examination of their adequacy is beyond the scope of innovation
studies. However, these aims are increasingly questioned in other fields of economics. The
present paper builds on one of the most influential criticisms of the dominating growthcentred
traditions of economics: Amartya Sen’s capability approach. We analyze the set of
information that would be required for the design, implementation and evaluation of
innovation policy if it relied on the capability approach, and how this informational basis
would differ from that of the growth centred view. We conclude that switching to the
capability approach would result in a sea-change, but the systems of innovation approach,
as a framework for analysis, would still be of good use.