Changes in Innovation

Jani Saarinen and Nina Rilla

Chapter 1 in Changes in Innovation, 2009, pp 3-7 from Palgrave Macmillan

Abstract: Abstract From the very beginning of mankind, technology has been one of the most essential and most important factors for the development of society. During the last 200 years, technological change has often been related to economic growth in the form of new types of goods and services. However, until the early days of the 20th century, technology was seen as something exogenous, which appeared outside the economic system and forced the economy to adjust itself to this new situation, in order to achieve an equilibrium. After some major advances made by such as Joseph Schumpeter in the area of technological development, innovations and industrial dynamics, technology was drawn inside the system and handled as something endogenous.

Date: 2009
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DOI: 10.1057/9780230248625_1

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