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Money and Technological Change: The Role of Financing in the Process of Evolution: Introduction

Author

Listed:
  • Fumagalli, Andrea

    (Università degli studi di Pavia)

  • Lucarelli, Stefano

    (Università degli Studi di Bergamo)

Abstract

This special issue on "Money and technological change" is a collection of papers that focus on the understanding both of how credit and finance systems effectively work and of their role in shaping firms' innovative strategies and determining their performances. Already Schumpeter acknowledged to what extent innovation and thereby economic growth rely upon the credit system. Taken together, the contributions to this special issue elaborate on a methodological proposal: monetary circuit and technological diffusion schemes, but also the long-waves approach, ought to be implemented as open schemes that allow one to decide, according to the relevant circumstances, which variables can be taken as given and which other variables are to be determined endogenously. As in a monetary economy of production technologically evolving crises are explained by the relationships between financial and technological decisions, "money and machineries" must both be explained as endogenous variables.

Suggested Citation

  • Fumagalli, Andrea & Lucarelli, Stefano, 2008. "Money and Technological Change: The Role of Financing in the Process of Evolution: Introduction," European Journal of Economic and Social Systems, Lavoisier, vol. 21(2), pages 151-163.
    • Handle: RePEc:ris:ejessy:0066
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    Citations

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    Cited by:

    1. Alessandro Caiani & Antoine Godin & Stefano Lucarelli, 2014. "A Stock Flow Consistent Analysis of a Schumpeterian Innovation Economy," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 397-429, July.
    2. Pesenti, Amos, 2015. "The origin of inflation in a domestic bank-based payment system," FSES Working Papers 457, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
    3. Nadia Oliva & Andrea Pacella, 2016. "The Ethics Inside the Monetary Circuit: How Bank’s Social Responsibility Affects Money Creation," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(7), pages 1-1, June.

    More about this item

    Keywords

    Monetary Economy of Production; Technological Diffusion; Long Wave Approach; Schumpeter;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • Y20 - Miscellaneous Categories - - Introductions and Prefaces - - - Introductions and Prefaces

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