- Elgar original reference
Edited by Cristiano Antonelli
Chapter 5: The Symbiotic Theory of Innovation: Knowledge Creation and the Evolution of the Capitalist System
5 The symbiotic theory of innovation: knowledge creation and the evolution of the capitalist system Martin Fransman INTRODUCTION Remarkably, economics has very little to say about the process of knowledge creation in capitalist economies.1 This is remarkable because economists acknowledge the crucial role that increasing knowledge plays in the process of economic change. Edith Penrose’s comment in this regard is just as true now as it was when she wrote it: ‘Economists have, of course, always recognized the dominant role that increasing knowledge plays in economic processes but have, for the most part, found the whole subject of knowledge too slippery to handle . . .’ (Penrose, 1959: 77). The human complex system (of which the economy is a part) is in one respect fundamentally different from biological and physical complex systems. It is based on the creation of knowledge by human beings. It is this knowledge that injects novelty into the system, causing a rupture with the past and driving its dynamics.2 In order to understand the workings of this system, therefore, it is necessary to understand how knowledge is created in it. In recent years some economists have acknowledged the importance of paying more attention to the creation of knowledge. Cristiano Antonelli (2008), for example, has emphasized the centrality of what he calls ‘knowledge interactions’ in economic complex systems, also referred to as ‘generative relationships’ by Lane and Maxfield (1997). Ulrich Witt (2002) has argued that although Schumpeter’s entrepreneur has been credited with the creation of what in this chapter...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.