Technical Progress and the Diffusion of Innovations: Classical and Schumpeterian Perspectives

Heinz Kurz

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2017, vol. 12, issue 3, 418-449

Abstract: The paper discusses the diffusion of new technologies from the perspective of the classical economists and Schumpeter. After a comparison of the pre- and post-technical change long-period positions of the economy, we illustrate the process of transition between the two in terms of a two-sector model. Next, we turn to a system with joint production. The fact that some products may be ¡°bads¡± that need to be disposed of leads to a study of systems of production-cum-disposal. Finally, we investigate the selection pressure innovations exert on incumbent firms. An important message is that technical change cannot generally be studied within a partial framework of the analysis.

Keywords: classical economists; creative destruction; diffusion; disposal processes; innovation; joint production; Schumpeter; Joseph A.; selection pressure; technical change; transition processes (search for similar items in EconPapers)
JEL-codes: B12 D24 O31 O33 Q55 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fec:journl:v:12:y:2017:i:3:p:418-449

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