Introduction

Elias G. Carayannis and Caroline M. Sipp

Chapter 1 in e-Development toward the Knowledge Economy, 2006, pp 1-5 from Palgrave Macmillan

Abstract: Abstract Adam Smith defined land, labor, and capital as. the key input factors of the economy in the eighteenth century. Joseph Schumpeter added technology and entrepreneurship as two more key input factors in the early twentieth century. He thus recognized the role and dynamic nature of technological change and innovation as well as path dependencies in shaping the health and future of the economy and moving away from the static approach of neoclassical economics.

Keywords: Social Capital; Knowledge Economy; Neoclassical Economic; Technical Platform; Economic Learning (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50873-6_1

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DOI: 10.1057/9780230508736_1

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