Abstract
ABSTRACTThe limits of both evolutionary approaches, based upon biological metaphors, and the new growth theory based on the early economics of knowledge, are becoming apparent. Considerable progress can be made by implementing an evolutionary complexity approach that builds upon the legacy of Schumpeter [1947a. ‘The Creative Response in Economic History’. The Journal of Economic History 7 (2): 149–159] with the notions of: (i) reactive decision-making; (ii) multiple feedback; (iii) innovation as the outcome of an emergent system process rather than individual action; (iv) organized complexity and knowledge connectivity; (v) endogenous variety; (vi) non-ergodic path dependent dynamics. Building upon these bases, the paper articulates an endogenous theory of innovation centered upon the analysis of the systemic conditions that make the creative reaction and hence the introduction of innovations possible.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
