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Schumpeter and the revival of evolutionary economics: an appraisal of the literature

  • Jan Fagerberg

During the last two decades we have seen a revival of interest in the works of Joseph Schumpeter and “evolutionary” ideas in economics more generally. A professional society honouring Schumpeter's name has been founded, and linked to it we have had for more than fifteen years now a professional journal devoted to this stream of thought. However, it has been argued that, despite these developments, the link between Schumpeter's own work and the more recent contributions to evolutionary economics is in fact rather weak. This paper considers this claim. Based on an analysis of Schumpeter's contribution to economics the paper presents an overview and assessment of the more recent literature in this area. It is argued that although there are important differences between Schumpeter's work and some of the more recent contributions, there nevertheless remains a strong common core that clearly distinguishes the evolutionary stream from other approaches (such as, for instance, so-called “new growth theory”). Copyright Springer-Verlag Berlin Heidelberg 2003

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Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 13 (2003)
Issue (Month): 2 (04)
Pages: 125-159

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Handle: RePEc:spr:joevec:v:13:y:2003:i:2:p:125-159
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  1. Cooke, Philip & Gomez Uranga, Mikel & Etxebarria, Goio, 1997. "Regional innovation systems: Institutional and organisational dimensions," Research Policy, Elsevier, vol. 26(4-5), pages 475-491, December.
  2. John Conlisk, 1989. "An Aggregate Model of Technical Change," The Quarterly Journal of Economics, Oxford University Press, vol. 104(4), pages 787-821.
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