Economics at your fingertips  

A Common Misunderstanding about Capitalism and Communism Through the Eyes of Innovation

Dirk-Hinnerk Fischer () and Hovhannes Yeritsyan ()
Additional contact information
Dirk-Hinnerk Fischer: Ragnar Nurske School of Innovation and Governance Tallinn University of Technology, Estonia
Hovhannes Yeritsyan: Department of Agricultural Economics, Texas A&M University, USA

Economic Thought, 2018, vol. 7, issue 2, 1 - 14

Abstract: This paper argues that theories of communism and capitalism should not be considered as opposites or alternatives, but rather systems that satisfy different stages of humanity's technological development. The argument derives from Maslow's hierarchy of needs, and a focus on the role of innovation within systems. Some argue that capitalism focuses on the lower, and communism on the higher, layers of the hierarchy – which lays the basis for their inability to compete in different periods.

Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) ... -eyes-of-innovation/ (text/html) ... ischer-Yeritsyan.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Economic Thought is currently edited by Kyla Rushman

More articles in Economic Thought from World Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Jake McMurchie ().

Page updated 2020-04-28
Handle: RePEc:wea:econth:v:7:y:2018:i:2:p:1