Chapter 8: Creative response in economic history
Josef Taalbi
Category:
Chapter
Published:
14 Oct 2022
Page Range:
71–80
Collection:
Economics 2022
DOI:
https://doi.org/10.4337/9781839106996.00013
Keywords:
Creative response; Economic history; Endogenous innovation; Joseph A. Schumpeter; Out-of-equilibrium
Restricted access

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 contribution 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.

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Cover Elgar Encyclopedia on the Economics of Knowledge and Innovation
Elgar Encyclopedia on the Economics of Knowledge and Innovation
Edited by
Cristiano Antonelli https://orcid.org/0000-0002-5652-0510
Encyclopedia
Published:
14 Oct 2022
Print ISBN:
9781839106989
eISBN:
9781839106996
DOI:
https://doi.org/10.4337/9781839106996
Pages:
578
Collection:
Economics 2022
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