A Schumpeterian Renaissance?
In the last few decades of the twentieth century, the attention paid to technical innovation in the economics and management literature and in social science generally has justified some such description as "a Schumpeterian renaissance". This article, in justifying the concept of such a renaissance, distinguishes in particular Schumpeter's work on the clustering of innovations and technological revolutions as a major contribution to contemporary theory. As always during his lifetime, the relevance of these ideas to his work on Business Cycles remains controversial but the debate on this topic has certainly enlivened the renaissance of neo-Schumpeterian economic theory and research.
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