Motivation, innovation and co-ordination

Brian J. Loasby ()
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Brian J. Loasby: University of Stirling

A chapter in Schumpeterian Perspectives on Innovation, Competition and Growth, 2009, pp 35-52 from Springer

Abstract: Abstract This paper draws on authors from Adam Smith to Herbert Simon to explore the implications of human capabilities and motivation, in a context of Knightian uncertainty, for novelty and coherence in economic systems. Differentiation and variation within each specialism frame the imagination of new possibilities, a few of which survive. Recognition of the identity of others and the potential of social relationships, interacting with the development of language, facilitate the diffusion and modification of ideas and the emergence of institutions which support both exchange and formal organisations. Regularities, within individuals and systems, promote stability and provide a basis for innovation.

Keywords: Uncertainty; Imagination; Evolution; Imitation; Coherence (search for similar items in EconPapers)
JEL-codes: B52 D01 O12 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-93777-7_4

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DOI: 10.1007/978-3-540-93777-7_4

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