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Technical Progress and the Diffusion of Innovations: Classical and Schumpeterian Perspectives

Author

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  • Heinz D. Kurz

    (Department of Economics and Graz Schumpeter Centre, University of Graz, 8010 Graz, Austria)

Abstract

The paper discusses the diffusion of new technologies from the perspective of the classical economists and Schumpeter. After a comparison of the pre- and post-technical change long-period positions of the economy, we illustrate the process of transition between the two in terms of a two-sector model. Next, we turn to a system with joint production. The fact that some products may be ¡°bads¡± that need to be disposed of leads to a study of systems of production-cum-disposal. Finally, we investigate the selection pressure innovations exert on incumbent firms. An important message is that technical change cannot generally be studied within a partial framework of the analysis.

Suggested Citation

  • Heinz D. Kurz, 2017. "Technical Progress and the Diffusion of Innovations: Classical and Schumpeterian Perspectives," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 12(3), pages 418-449, September.
    • Handle: RePEc:fec:journl:v:12:y:2017:i:3:p:418-449
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    File URL: http://journal.hep.com.cn/fec/EN/10.3868/s060-006-017-0018-5
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    Citations

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    Cited by:

    1. Heinz D. Kurz, 2021. "Pierangelo Garegnani: economics with a critical orientation," Bulletin of Political Economy, Bulletin of Political Economy, vol. 15(2), pages 147-162, December.

    More about this item

    Keywords

    classical economists; creative destruction; diffusion; disposal processes; innovation; joint production; Schumpeter; Joseph A.; selection pressure; technical change; transition processes;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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