Production, Innovation, and Disequilibrium

Dharmaraj Navaneethakrishnan ()
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Dharmaraj Navaneethakrishnan: Data Science and Analytics Team, Hubbell India

Chapter 8 in Keynesian, Sraffian, Computable and Dynamic Economics, 2021, pp 215-229 from Springer

Abstract: Abstract Understanding the morphogenetic (creative destruction) nature of economic systems is crucial for modelling economic growth and analysing traverse. Prof. Zambelli’s contribution to endogenous growth theory by harnessing the Turing Machine (TM) metaphor to intrinsically encapsulate the uncertainties of discovery, knowledge generation, and innovation is original and significant. This chapter sets out to explore some of the possible applications of the TM metaphor for modelling innovations and to discuss the importance of viability creating mechanisms to effectively traverse the dynamic disequilibrium.

Keywords: Endogenous Economic Growth; Process Innovation; Product Innovation; Traverse Analysis; Viability Creating Mechanisms (search for similar items in EconPapers)
JEL-codes: D50 E32 O00 O32 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-58131-2_8

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