Description
Book Synopsis'Capitalism is Change'. This famous expression of Joseph Schumpeter was not only characteristic of his time, but is certainly relevant as we enter the twenty-first century. The transition of Eastern Europe and the former Soviet Union, the Asian crisis and European integration all characterise the continuous change of capitalism.
What is the role of entrepreneurs in capitalist society? How effective are technological policies in changing institutions? Are the economic systems of the United States, Europe and Asia converging? In answer to these questions distinguished contributors - including Paul Krugman - focus on the theoretical foundations of the evolution of capitalist institutions. They apply these theoretical insights to the firm, sectors and economic systems.
The combination of recent developments in theory with empirical studies will ensure that this book is essential reading for all those interested in evolutionary and institutional economics, political economy, technology policy, innovation and knowledge.
Trade Review'This book is an important contribution to the growing literature on evolutionary economics, concentrating, as it does, on the human factor in economic evolution and avoiding the unconvincing arguments based almost entirely on mere analogy with biological processes of much of the writing in this field.' -- John Laurent, History of Economics Review
Table of ContentsContents: 1. Implications of Evolutionary Economics; Theory, Method and Policies 2. What Economists Can Learn from Evolutionary Theorists – and Vice Versa 3. Discontinuous Changes in Institutional Systems 4. The Legacy of J.R. Commons’ Conception of Economics as a Science of Behaviour 5. Discovery Versus Creation 6. Uncertainty, Intelligence and Imagination 7. The Diffusion of Organisational Innovations 8. The Variety and the Dynamics of Capitalism 9. Understanding Varieties in the Structure and Performance of National Innovation Systems 10. Capabilities, Tacit Knowledge and Systematic Change 11. An Evolutionary Analysis of Technology Policy Index
