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The Schumpeterian shock at General Motors in the 1920’s

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  • Seth W. Norton

Abstract

Purpose - The purpose of this paper is to examine the link between Joseph Schumpeter’s economics and the rise of General Motors (GM). Design/methodology/approach - The paper uses regression analysis and time series analysis of market synchronization. Findings - There is a strong link between GM rise to dominance of the domestic automobile industry and nuanced features of Schumpeterian economics. Research limitations/implications - The paper furthers the examination of the role of information economics on marketing channel performance. Practical implications - Information helps in production decisions by synchronizing production with consumer demand. Social implications - Economic efficiency enhances the human welfare for better forecasting, lower inventories and greater profits. Originality/value - This topic has been explored before but methodology used in this paper is innovative. The paper uses Granger causality.

Suggested Citation

  • Seth W. Norton, 2018. "The Schumpeterian shock at General Motors in the 1920’s," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 7(4), pages 320-335, November.
    • Handle: RePEc:eme:jepppp:jepp-d-18-00048
    DOI: 10.1108/JEPP-D-18-00048
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    More about this item

    Keywords

    Information; Consumer demand; Forecasting; Granger-Sims causality; Leading indicator; Information processing; Market share; Schumpeter; D22; D83; L23; L62; O31;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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