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Cristiano Antonelli

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Cristiano Antonelli

The notion of endogenous innovation as the outcome of the creative response of firms to out-of-equilibrium conditions is the cornerstone of the new evolutionary complexity. This chapter explores the role of the reactivity of firms to out-of-equilibrium conditions and of knowledge governance in assessing the chances that creative responses actually take place as an alternative to adaptive responses. It implements a systemic frame able to show that: i) the quality of knowledge governance is a determinant in making the response of firms creative rather than adaptive; and ii) the levels of firms’ reactivity enhance the rates of introduction of innovations and increase total factor productivity.

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The Evolutionary Complexity of Endogenous Innovation

The Engines of the Creative Response

Cristiano Antonelli

The notion of endogenous innovation as the outcome of the creative response of firms to out-of-equilibrium conditions is the cornerstone of the new evolutionary complexity. This book elaborates and applies the theoretical framework established in the author’s previous work Endogenous Innovation: The Economics of an Emergent System Property. This volume carefully explores the role of the reactivity of firms to out-of-equilibrium conditions. It also examines the quality of knowledge governance mechanisms in assessing the levels of externalities that define the likelihood of creative responses, as an alternative to adaptive responses.
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Cristiano Antonelli

The advances of the economics of knowledge provide the tools to study the changing organization of economic systems. Schumpeterian growth regimes identify the governance mechanisms of the generation and exploitation of knowledge as the engine of economic growth. The limited exhaustibility and appropriability of knowledge require specific coordination procedures at the system and the firm level to take advantage of the potential for increasing returns. The changing mix of such governance mechanisms enables us to identify the emergence and decline of different growth regimes: the entrepreneurial growth regime, the corporate growth regime and the knowledge growth regime.

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Edited by Cristiano Antonelli

This comprehensive and innovative Handbook applies the tools of the economics of complexity to analyse the causes and effects of technological and structural change. It grafts the intuitions of the economics of complexity into the tradition of analysis based upon the Schumpeterian and Marshallian legacies.
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Endogenous Innovation

The Economics of an Emergent System Property

Cristiano Antonelli

This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the individual actions of firms, accounts for endogenous innovation and the dynamics of the system.
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Standing on the shoulders of giants

The Economics of an Emergent System Property

Cristiano Antonelli

This chapter highlights the limits of current approaches to the economics of innovation. It also stresses their role in articulating a theory of innovation as an endogenous process that relies upon the characteristics of the system in which the response of firms to unexpected mismatches in both labour and factor markets takes place. The role of Marshallian contributions to Schumpeterian thinking is stressed.

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Innovation as a creative response

The Economics of an Emergent System Property

Cristiano Antonelli

The chapter uncovers the merits of the essay ‘The creative response in economic history’ published by Joseph Alois Schumpeter in the Journal of Economic History in 1947 and ‘almost’ forgotten since then. Correct appreciation of this contribution is important for two reasons. First, it enables us to better understand the evolution of Schumpeter’s thinking. The 1947 contribution should be regarded as the final attempt to provide a synthesis of his evolving approaches to understanding the origins, causes and consequences of innovation in economics and in the economy. Second, the 1947 essay portrays innovation as the result of a creative reaction conditional on the context in which it takes place, anticipating the notion of innovation as an emergent property of system dynamics.

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Towards an evolutionary complexity of endogenous innovation

The Economics of an Emergent System Property

Cristiano Antonelli

This chapter implements an evolutionary complexity approach that builds on the legacy of Schumpeter (1947) 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; iv) endogenous variety; and vi) non-ergodic path-dependent dynamics. Building on these bases, the chapter articulates an endogenous theory of innovation centred on analysis of the systemic conditions that make the creative reaction, and hence the introduction of innovations, possible.