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Schumpeterian endogenous growth theory and evolutionary economics

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  • Alain Alcouffe
  • Thomas Kuhn

Abstract

In this paper, we aim to discuss whether Schumpeterian models of endogenous growth can accommodate Schumpeter’s vision of development through creative destruction. Taking a methodological approach, our focus is on individual decision-making, technology, general equilibrium and welfare, and steady state dynamics as the fundamental principles underlying endogenous growth theory. In particular, the Aghion-Howitt model of Schumpeterian growth in various extended versions is analyzed in the light of Schumpeter’s work. Therefore, we also try to root Schumpeter’s work in historical context. We find endogenous growth theory far from carrying Schumpeter’s idea of an evolutionary approach to change and development. Rather the emergence of numerous models of an evolutionary type can be observed to provide for the formal structure appropriate to keeping Schumpeter’s legacy alive. Copyright Springer-Verlag Berlin/Heidelberg 2004

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  • Alain Alcouffe & Thomas Kuhn, 2004. "Schumpeterian endogenous growth theory and evolutionary economics," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 223-236, June.
    • Handle: RePEc:spr:joevec:v:14:y:2004:i:2:p:223-236
    DOI: 10.1007/s00191-004-0205-0
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    Cited by:

    1. Frank W. Geels & Jonatan Pinkse & Dimitri Zenghelis, 2021. "Productivity opportunities and risks in a transformative,low-carbon and digital age," Working Papers 009, The Productivity Institute.
    2. repec:dau:papers:123456789/6516 is not listed on IDEAS
    3. Kevin Maréchal & Hélène Aubaret-Joachain & Jean-Paul Ledant, 2008. "The influence of Economics on agricultural systems: an evolutionary and ecological perspective," Working Papers CEB 08-028.RS, ULB -- Universite Libre de Bruxelles.
    4. Foster, John & Metcalfe, J. Stan, 2012. "Economic emergence: An evolutionary economic perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 420-432.
    5. Orlando Gomes, 2004. "A Second-Order Approximation to Technology Choices," GE, Growth, Math methods 0409007, University Library of Munich, Germany.
    6. Marian-Pompiliu Cristescu & Raluca-Andreea Nerișanu & Maria Flori & Florin Stoica & Florentina Laura Stoica, 2021. "Analysing the Stock Market as an Economic Lever, Using a Qualitative and a Quantitative Model," Mathematics, MDPI, vol. 9(19), pages 1-19, September.
    7. Nomaler, Önder & Verspagen, Bart, 2022. "Complexity research in economics: past, present and future," MERIT Working Papers 2022-023, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    8. Kurt Dopfer, 2011. "Mesoeconomics: A Unified Approach to Systems Complexity and Evolution," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 13, Edward Elgar Publishing.
    9. Sterlacchini, Alessandro, 2008. "R&D, higher education and regional growth: Uneven linkages among European regions," Research Policy, Elsevier, vol. 37(6-7), pages 1096-1107, July.
    10. Kurt Dopfer, 2012. "The origins of meso economics," Journal of Evolutionary Economics, Springer, vol. 22(1), pages 133-160, January.
    11. Mantas Markauskas & Asta Baliute, 2021. "Technological progress spillover effect in Lithuanian manufacturing industry," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(4), pages 783-806, December.
    12. John Foster, 2011. "Evolutionary macroeconomics: a research agenda," Journal of Evolutionary Economics, Springer, vol. 21(1), pages 5-28, February.

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