Creative response in economic history

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Abstract

Understanding how innovation comes about is essential to furthering economic development and sustainable transitions. Noting “creative response” (Schumpeter, 1947) as a broad notion of how agents respond to changes in their environment, this lemma surveys main contributions to our understanding of innovation as endogenous to social and economic mechanisms. Through a review of economic historical debates, this entry discusses the problem of to what extent significant innovations emerge “ab nihilo”, or reflect the problems and opportunities of the day.
Original languageEnglish
Title of host publicationElgar Encyclopedia on the Economics of Knowledge and Innovation
EditorsCristiano Antonelli
PublisherEdward Elgar Publishing
Pages71-80
Number of pages10
ISBN (Electronic)978-183910698-9
ISBN (Print)978-183910699-6
Publication statusPublished - 2022

Subject classification (UKÄ)

  • Economic History

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