Knowledge, Physical Capital and Creative destruction

Edmund Stuart Cannon

Economics Papers from Economics Group, Nuffield College, University of Oxford

Abstract: "creative destruction" refers to the way that economic advances make existeng economic capital ideas absolescent: thay are partially destroyed (in value term). Existing models have only considered how additions to economic knowledge make existing knowledge less valuable. This paper recognises that both knowledge and capital obsolesce and considers the effect on both.

Keywords: ECONOMIC GROWTH; INNOVATIONS (search for similar items in EconPapers)
JEL-codes: O31 O40 O49 (search for similar items in EconPapers)
Date: 1995

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Persistent link: http://EconPapers.repec.org/RePEc:nuf:econwp:110

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