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Schumpeter, Winter, and the sources of novelty

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  • Markus C. Becker
  • Thorbjørn Knudsen
  • James G. March

Abstract

This article examines what Joseph Schumpeter said on the emergence of novelty in economic institutions, what Sidney Winter did to build on and deviate from that foundation, and what puzzles remain. Winter built a framework for answers to a puzzle that Schumpeter could not solve--how novelty emerges in a system based on routines. He identified two major sources of novelty: the combinatorics of routines and the unreliability of routine imitation. As possible inspirations for further progress in evolutionary thought, the article points to ideas from chemistry, linguistics, and the diffusion of fashion for elaborations of these key Winterian insights. Copyright 2006, Oxford University Press.

Suggested Citation

  • Markus C. Becker & Thorbjørn Knudsen & James G. March, 2006. "Schumpeter, Winter, and the sources of novelty," Industrial and Corporate Change, Oxford University Press, vol. 15(2), pages 353-371, April.
  • Handle: RePEc:oup:indcch:v:15:y:2006:i:2:p:353-371
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    References listed on IDEAS

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    1. Koen Frenken & Frank Van Oort & Thijs Verburg, 2007. "Related Variety, Unrelated Variety and Regional Economic Growth," Regional Studies, Taylor & Francis Journals, vol. 41(5), pages 685-697.
    2. Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-181.
    3. Koen Frenken & Ron A. Boschma, 2007. "A theoretical framework for evolutionary economic geography: industrial dynamics and urban growth as a branching process," Journal of Economic Geography, Oxford University Press, vol. 7(5), pages 635-649, September.
    4. Geroski, P A, 2001. "Exploring the Niche Overlaps between Organizational Ecology and Industrial Economics," Industrial and Corporate Change, Oxford University Press, vol. 10(2), pages 507-540, June.
    5. Allen J. Scott, 1997. "The Cultural Economy of Cities," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 21(2), pages 323-339, June.
    6. Klepper, Steven & Simons, Kenneth L, 1997. "Technological Extinctions of Industrial Firms: An Inquiry into Their Nature and Causes," Industrial and Corporate Change, Oxford University Press, pages 379-460.
    7. Robert Hassink, 2005. "How to unlock regional economies from path dependency? From learning region to learning cluster," European Planning Studies, Taylor & Francis Journals, pages 521-535.
    8. Ron A. Boschma & Koen Frenken, 2006. "Why is economic geography not an evolutionary science? Towards an evolutionary economic geography," Journal of Economic Geography, Oxford University Press, vol. 6(3), pages 273-302, June.
    9. Ron A. Boschma & Rik Wenting, 2004. "The spatial evolution of the British automobile industry," Papers in Evolutionary Economic Geography (PEEG) 0504, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Aug 2004.
    10. Merlo, Elisabetta & Polese, Francesca, 2006. "Turning Fashion into Business: The Emergence of Milan as an International Fashion Hub," Business History Review, Cambridge University Press, pages 415-447.
    11. Leo van Wissen, 2004. "A Spatial Interpretation of the Density Dependence Model in Industrial Demography," Small Business Economics, Springer, pages 253-264.
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    Cited by:

    1. Agnes Festre & Eric Nasica, 2009. "Schumpeter on money, banking and finance: an institutionalist perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, pages 325-356.
    2. Rahmeyer Fritz, 2013. "Schumpeter, Marshall, and Neo-Schumpeterian Evolutionary Economics: A Critical Stocktaking," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(1), pages 39-64, February.
    3. Lazaric, Nathalie, 2011. "Organizational routines and cognition: an introduction to empirical and analytical contributions," Journal of Institutional Economics, Cambridge University Press, vol. 7(02), pages 147-156, June.
    4. Agnes Festre & Eric Nasica, 2009. "Schumpeter on money, banking and finance: an institutionalist perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, pages 325-356.
    5. Strambach Simone & Klement Benjamin, 2013. "Exploring plasticity in the development path of the automotive industry in Baden-Württemberg: the role of combinatorial knowledge dynamics," Zeitschrift für Wirtschaftsgeographie, De Gruyter, vol. 57(1-2), pages 67-82, October.
    6. Markus C. Becker & Thorbjørn Knudsen, 2017. "Heterogeneity of habits as a foundation for Schumpeterian economic policy," Journal of Evolutionary Economics, Springer, pages 43-62.
    7. Anthony Endres & Christine Woods, 2010. "Schumpeter’s ‘conduct model of the dynamic entrepreneur’: scope and distinctiveness," Journal of Evolutionary Economics, Springer, pages 583-607.
    8. Helmut M. Dietl & Markus Lang & Eric Lucas & Dirk Martignoni, 2012. "Learning Through Inaccurate Replication," Working Papers 312, University of Zurich, Department of Business Administration (IBW).
    9. Martha S. Feldman & Brian Pentland & Luciana D'Adderio & Nathalie Lazaric, 2016. "Beyond routines as Things: introduction to the special Issue on routines Dynamics," Post-Print halshs-01310289, HAL.

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