Innovation and Dynamism: Interaction between Systems and Technical Progress

János Kornai

No wp-2010-033, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Literature on post-socialist transformation usually deals with the political, economic and social sides of it, although there have also been important changes in the field of technical advance in the last 20 years. One of capitalism's main virtues is the strong incentive it gives to dynamism, enterprise and the innovation process. Every revolutionary new product (for civilian use) has been brought about by the capitalist system. The socialist system was capable, at most, of developing new military products.

Keywords: Capitalism; Communist; Comparative economics; Technological innovations (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (5)

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Journal Article: Innovation and Dynamism. Interaction between Systems and Technical Progress (2012)
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