A Schumpeterian Perspective on Growth and Competition

Philippe Aghion and Peter Howitt

Chapter 2 in New Theories in Growth and Development, 1998, pp 9-49 from Palgrave Macmillan

Abstract: Abstract The revival of growth theory in the 1980s was originally stimulated by ‘technical progress within economics’— by the development of new tools for handling old ideas. The neoclassical models of the 1960s had already shown that growth in per capita income was sustainable only through the continual growth of technological knowledge. A so, it had long been understood that technological knowledge, like capital, grows only because people find it profitable to make it grow; research, development, study, experimentation and learning by doing all employ resources with alternative uses. The neoclassical model of Solow and Swan ignored these activities and treated technological growth as exogenous, not on grounds of realism but because there were no available techniques for incorporating them into standard economic analysis.

Keywords: Intermediate Good; Creative Destruction; Endogenous Growth Model; Product Market Competition; Monopoly Rent (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (4)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26270-0_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349262700

DOI: 10.1007/978-1-349-26270-0_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().