Tools and concepts for understanding disruptive technological change after Schumpeter

Mark Knell and Simone Vannuccini

No 2022-005, Jena Economics Research Papers from Friedrich-Schiller-University Jena

Abstract: This chapter is about radical innovation and disruptive technological change. Discovering the nature and mechanisms of disruptive technological change can help to understand the long-run dynamics of innovation and map profound transformation in socio-economic systems. The chapter considers four concepts essential for the understanding radical and disruptive technological change: long waves, techno-economic paradigms, general purpose technologies (GPTs), and disruptive technologies. We conclude with some insights on the emerging technologies in the latest techno-economic paradigm. The tools and concepts given here remain the cornerstone of a useful theory of innovation and change even in our current complex socio-technical landscape.

Keywords: Radical innovation; Kondratiev; long wave cycle; Schumpeter; perennial gale of creative destruction; technological discontinuities; techno-economic paradigm; technological revolution; great surge of development; general purpose technology; disruptive technology; emerging technology (search for similar items in EconPapers)
JEL-codes: O31 (search for similar items in EconPapers)
Date: 2022-04-04
New Economics Papers: this item is included in nep-ban, nep-cwa, nep-gro, nep-hme and nep-ino
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Published in "The Routledge Handbook of Smart Technologies: An Economic and Social Perspective", edited by Heinz D. Kurz, Marlies Schütz, Rita Strohmaier, and Stella Zilian (2022), chapter 4

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Persistent link: https://EconPapers.repec.org/RePEc:jrp:jrpwrp:2022-005

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