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Knowledge, Physical Capital and Creative Destructio

Author

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  • Edmund Cannon

Abstract

"creative destruction" refers to the way that economic advances make existeng economic capital ideas absolescent: thay are partially destroyed (in value term). Existing models have only considered how additions to economic knowledge make existing knowledge less valuable. This paper recognises that both knowledge and capital obsolesce and considers the effect on both.
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Suggested Citation

  • Edmund Cannon, "undated". "Knowledge, Physical Capital and Creative Destructio," Economics Papers W17&110., Economics Group, Nuffield College, University of Oxford.
  • Handle: RePEc:nuf:econwp:9617
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    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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