 What Does Schumpeter Have to Tell Us in a World of Disruptive Change?Horst Hanusch
Chapter Chapter 2 in Technological Revolution and New Driving Forces for Global Sustainable Development, 2024, pp 5-17 from Springer Abstract: Abstract Today, we are living in a “risk society.” In a “risk society,” the future is characterized as a socio-economic dimension where positive expectations are still alive, shaping society’s well-being. However, to a high degree, they are superimposed by negative risks of an existential quality like today’s escalating climate warming. “Existential risks” of this kind not only change the stability and flexibility of a complex socio-economic system, but they may bring the whole system into a situation of sudden collapse. Then, “existential risks” touch the system’s tipping point. What does all that mean for economists nowadays elaborating their insights and ideas in a Schumpeterian kind of thinking? How can the present situation of socio-economic systems reaching their tipping points be captured in a Schumpeterian approach? In which way has Schumpeterian thinking to be modified or transformed in order to deal with both sides of today’s socio-economic reality, the quest for “economic prosperity” as well as the need for “natural security”? These are all the questions that will be addressed in this chapter. Date: 2024 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-7332-9_2 Ordering information: This item can be ordered from DOI: 10.1007/978-981-97-7332-9_2 Access Statistics for this chapter More chapters in Springer Books from Springer |
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