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Technology and social rules and norms in neo-Schumpeterian economics and in original institutional economics

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  • Henning Schwardt

    (University of Denver, Denver, CO, USA)

Abstract

The foundation for both the neo-Schumpeterian and original institutional economics school of thought is the emphasis on evolutionary processes in economies. The relationship between technology and the social rules and norms that coordinate the behavior of people provides the focus for their respective conceptualizations of such processes. However, the seemingly familial relation of their analytical frameworks is tempered by how they conceptualize social rules and norms. We discuss the differences between neo-Schumpeterian and original institutional economics. These differences are a result of each approach’s conceptualizations of social rules and norms, in particular when it comes to evolutionary processes and innovation dynamics.

Suggested Citation

  • Henning Schwardt, 2022. "Technology and social rules and norms in neo-Schumpeterian economics and in original institutional economics," PSL Quarterly Review, Economia civile, vol. 75(303), pages 385-401.
    • Handle: RePEc:psl:pslqrr:2022:43
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    File URL: https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/17371/16955
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    References listed on IDEAS

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    More about this item

    Keywords

    social rules and norms; institutions; innovation; evolutionary process;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other

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