The Engines of the Creative Response
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.
Show Summary Details
3 The microfoundations of evolutionary complexity: from the Marshallian search for equilibrium to Schumpeterian dynamics
4 External and internal knowledge in the knowledge generation function
5 The role of external knowledge in the introduction of product and process innovations
8 Productivity growth persistence: firm strategies, size and system properties
9 The endogenous dynamics of pecuniary knowledge externalities