Creative response in economic history

Josef Taalbi

Chapter 8 in Elgar Encyclopedia on the Economics of Knowledge and Innovation, 2022, pp 71-80 from Edward Elgar Publishing

Abstract: Understanding how innovation comes about is essential to furthering economic development and sustainable transitions. Noting "creative response" (Schumpeter, 1947) as a broad notion of how agents respond to changes in their environment, this contribution surveys main contributions to our understanding of innovation as endogenous to social and economic mechanisms. Through a review of economic historical debates, this entry discusses the problem of to what extent significant innovations emerge "ab nihilo", or reflect the problems and opportunities of the day.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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