This paper has three parts. In the first, it is thrown light about the economics of innovation departing from Schumpeter up to now. The main message is that innovation is a key issue to get economic wealth. But this is not without creating ups and downs in society using market economics and being liberal democracy. In the second, the global village's wealth at the long run is illuminated giving a world's legitimacy to the concern for innovation. In the third, a new knowledge policy is proposed. It is a way to capitalise on a wider spectrum of knowledge than today through market economics. Indeed, the new policy looks at the full set of knowledge a society from a given civilisation has at a certain moment of time. This seems to be more relevant when markets are open and civilisations encounter more than in the past. The new knowledge policy is a way to get new and more shared growth than in the past.