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The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
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Resumo(s)
The modern concept of innovation is a crucial part of the analysis of capitalism as an adaptive system, and it is due to Schumpeter. Consequently, Schumpeter’s role as a “prophet of innovation” has been rightly emphasized. This paper contributes to that history presenting some of the difficulties Schum peter suffered as a formal representation of innovation was proposed by his fellow econometricians, as proved by the case of one of such dialogs, that with Jacob Marschak, at the time the director of the Cowles Commission and vice-president and then president of the Econometric Society. It is shown how Schumpeter elaborated his concepts of endogenous innovation and of industrial mutation as contrasted to the mechanical view of his fellow econometricians. Finally, the paper emphasizes the changes of the concept of randomness through the debate.
Descrição
Palavras-chave
Innovation Randomness Schumpeter Marschak Econometrics
Contexto Educativo
Citação
Louçã, Francisco.(2014).” The elusive concept of innovation for Schumpeter, Marschak and the early econometricians”. Research Policy, Vol. 43: pp. 1442-1449