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Production, Innovation, and Disequilibrium

In: Keynesian, Sraffian, Computable and Dynamic Economics

Author

Listed:
  • Dharmaraj Navaneethakrishnan

    (Data Science and Analytics Team, Hubbell India)

Abstract

Understanding the morphogenetic (creative destruction) nature of economic systems is crucial for modelling economic growth and analysing traverse. Prof. Zambelli’s contribution to endogenous growth theory by harnessing the Turing Machine (TM) metaphor to intrinsically encapsulate the uncertainties of discovery, knowledge generation, and innovation is original and significant. This chapter sets out to explore some of the possible applications of the TM metaphor for modelling innovations and to discuss the importance of viability creating mechanisms to effectively traverse the dynamic disequilibrium.

Suggested Citation

  • Dharmaraj Navaneethakrishnan, 2021. "Production, Innovation, and Disequilibrium," Springer Books, in: Kumaraswamy Velupillai (ed.), Keynesian, Sraffian, Computable and Dynamic Economics, chapter 8, pages 215-229, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-58131-2_8
    DOI: 10.1007/978-3-030-58131-2_8
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    More about this item

    Keywords

    Endogenous Economic Growth; Process Innovation; Product Innovation; Traverse Analysis; Viability Creating Mechanisms;
    All these keywords.

    JEL classification:

    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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