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'In Economics as Anatomy Peter Swann has produced a wonderful
sequel to his earlier 2006 classic, Putting Econometrics into Its
Place. In this powerful new book, Peter Swann shows how key ideas
from the economics of innovation can reconstruct economics as an
empirical science. The challenge for mainstream economists is to
embrace diversity and help rebuild the subject of economics so that
it is no less innovative and dynamic than the economy itself.
Economists need to go back to their roots and build something
different.' - Kevin Dowd, Durham University, UK 'This is an
important, thought-provoking, well-argued and provocative work
which questions the methodological basis of, and the status
accorded to, econometric analyses. . . This book will prove useful
to all economic researchers, whatever the stage of their career -
from undergraduates to longstanding professors. This book should
stimulate a lively debate and should result in all researching
economists to reflect critically on their current approaches and
become more open to methods other than the strictly econometric.' -
Adrian Darnell, Durham University, UK There are two fundamentally
different approaches to innovation: incremental and radical. In
Economics as Anatomy, G.M. Peter Swann argues that economics as a
discipline needs both perspectives in order to create the maximum
beneficial effect for the economy. Chapters explore how and why
mainstream economics is very good at incremental innovation but
seems uncomfortable with radical innovation. Swann argues that
economics should follow the example of many other disciplines,
transitioning from one field to a range of semi-autonomous
sub-disciplines. In this book, he compares the missing link in
empirical economics to being the economic equivalent of anatomy,
the basis of medical discourse. Working as a sequel to Swann's
Putting Econometrics in its Place, this book will be a vital
resource to those who are discontent with the state of mainstream
economics, especially those actively seeking to promote change in
the discipline. Students wishing to see progress in the teaching of
economics will also benefit from this timely book.
In his challenging new book, Common Innovation, Peter Swann argues
that innovation and wealth creation are not the monopoly of
business but the contribution of ordinary people. Joseph
Schumpeter, the pioneer of innovation research, described business
innovation as a 'perennial gale of creative destruction', whereas
common innovation is, by comparison, a 'gentle and benign breeze'.
In common innovation, the ordinary citizen is centre stage, and
business is quite peripheral.Building upon the pioneering work of
Eric von Hippel on democratic and user-led innovation, this book
goes a step further - offering essential comparisons between
business and common innovation, real and material wealth, and
oikonomia and the 'outer economy'. Analyses and examples of the
destructive side of business innovation accompany Swann's
illustration of the 'benign breeze' of common innovation, and a
powerful and exciting new role for Leontief models is introduced.
This book will be of great interest to scholars and students
seeking a more expansive and insightful understanding of the
economics of innovation and wealth.
This major textbook provides a comprehensive yet accessible
introduction to the economics of innovation, written for students
with some basic knowledge of economics. G.M. Peter Swann contends
that innovation is one of the most important economic and business
phenomena of our time and a topic of great practical and policy
interest, with widespread implications for our economy and society.
This book engages with the reader to explore some of the key
economic issues concerning innovation. Bridging a gap in the
literature, this timely textbook addresses critical questions such
as: How should different aspects of innovation be described and
classified? What are the incentives to innovate? How should firms
organize themselves to promote innovation? What are the effects of
innovation on the economy? Do governments have a role in supporting
and guiding innovation? Introducing the student to a broad range of
issues surrounding the economics of innovation, this text will
prove invaluable to students on a variety of courses including
economics, business and management, innovation, and science and
technology studies.
This major textbook provides a comprehensive yet accessible
introduction to the economics of innovation, written for students
with some basic knowledge of economics. G.M. Peter Swann contends
that innovation is one of the most important economic and business
phenomena of our time and a topic of great practical and policy
interest, with widespread implications for our economy and society.
This book engages with the reader to explore some of the key
economic issues concerning innovation. Bridging a gap in the
literature, this timely textbook addresses critical questions such
as: How should different aspects of innovation be described and
classified? What are the incentives to innovate? How should firms
organize themselves to promote innovation? What are the effects of
innovation on the economy? Do governments have a role in supporting
and guiding innovation? Introducing the student to a broad range of
issues surrounding the economics of innovation, this text will
prove invaluable to students on a variety of courses including
economics, business and management, innovation, and science and
technology studies.
In his challenging new book, Common Innovation, Peter Swann argues
that innovation and wealth creation are not the monopoly of
business but the contribution of ordinary people. Joseph
Schumpeter, the pioneer of innovation research, described business
innovation as a 'perennial gale of creative destruction', whereas
common innovation is, by comparison, a 'gentle and benign breeze'.
In common innovation, the ordinary citizen is centre stage, and
business is quite peripheral.Building upon the pioneering work of
Eric von Hippel on democratic and user-led innovation, this book
goes a step further - offering essential comparisons between
business and common innovation, real and material wealth, and
oikonomia and the 'outer economy'. Analyses and examples of the
destructive side of business innovation accompany Swann's
illustration of the 'benign breeze' of common innovation, and a
powerful and exciting new role for Leontief models is introduced.
This book will be of great interest to scholars and students
seeking a more expansive and insightful understanding of the
economics of innovation and wealth.
'In Economics as Anatomy Peter Swann has produced a wonderful
sequel to his earlier 2006 classic, Putting Econometrics into Its
Place. In this powerful new book, Peter Swann shows how key ideas
from the economics of innovation can reconstruct economics as an
empirical science. The challenge for mainstream economists is to
embrace diversity and help rebuild the subject of economics so that
it is no less innovative and dynamic than the economy itself.
Economists need to go back to their roots and build something
different.' - Kevin Dowd, Durham University, UK 'This is an
important, thought-provoking, well-argued and provocative work
which questions the methodological basis of, and the status
accorded to, econometric analyses. . . This book will prove useful
to all economic researchers, whatever the stage of their career -
from undergraduates to longstanding professors. This book should
stimulate a lively debate and should result in all researching
economists to reflect critically on their current approaches and
become more open to methods other than the strictly econometric.' -
Adrian Darnell, Durham University, UK There are two fundamentally
different approaches to innovation: incremental and radical. In
Economics as Anatomy, G.M. Peter Swann argues that economics as a
discipline needs both perspectives in order to create the maximum
beneficial effect for the economy. Chapters explore how and why
mainstream economics is very good at incremental innovation but
seems uncomfortable with radical innovation. Swann argues that
economics should follow the example of many other disciplines,
transitioning from one field to a range of semi-autonomous
sub-disciplines. In this book, he compares the missing link in
empirical economics to being the economic equivalent of anatomy,
the basis of medical discourse. Working as a sequel to Swann's
Putting Econometrics in its Place, this book will be a vital
resource to those who are discontent with the state of mainstream
economics, especially those actively seeking to promote change in
the discipline. Students wishing to see progress in the teaching of
economics will also benefit from this timely book.
Putting Econometrics in its Place is an original and fascinating
book, in which Peter Swann argues that econometrics has dominated
applied economics for far too long and displaced other essential
techniques. While Peter Swann is critical of the monopoly that
econometrics currently holds in applied economics, the more
important and positive contribution of the book is to propose a new
direction and a new attitude to applied economics.The advance of
econometrics from its early days has been a massive achievement,
but it has also been problematic; practical results from the use of
econometrics are often disappointing. The author argues that to get
applied economics back on course economists must use a much wider
variety of research techniques, and must once again learn to
respect vernacular knowledge of the economy. This vernacular
includes the knowledge gathered by ordinary people from their
everyday interactions with markets. While vernacular knowledge is
often unsystematic and informal, it offers insights that can never
be found from formal analysis alone. As a serious, original and
sometimes contentious book, its readership will be varied and
international. Scholars throughout the many fields of economics -
both skilled and unskilled in econometrics - are likely to be
intrigued by the serious alternative approaches outlined within the
book. It will also appeal to communities of economists outside
economics departments in government, industry and business as well
as business and management schools. Research centres for applied
economics, policy research and innovation research, will also find
it of interest due to its focus on getting reliable results rather
than methodological orthodoxy for its own sake.
Putting Econometrics in its Place is an original and fascinating
book, in which Peter Swann argues that econometrics has dominated
applied economics for far too long and displaced other essential
techniques. While Peter Swann is critical of the monopoly that
econometrics currently holds in applied economics, the more
important and positive contribution of the book is to propose a new
direction and a new attitude to applied economics.The advance of
econometrics from its early days has been a massive achievement,
but it has also been problematic; practical results from the use of
econometrics are often disappointing. The author argues that to get
applied economics back on course economists must use a much wider
variety of research techniques, and must once again learn to
respect vernacular knowledge of the economy. This vernacular
includes the knowledge gathered by ordinary people from their
everyday interactions with markets. While vernacular knowledge is
often unsystematic and informal, it offers insights that can never
be found from formal analysis alone. As a serious, original and
sometimes contentious book, its readership will be varied and
international. Scholars throughout the many fields of economics -
both skilled and unskilled in econometrics - are likely to be
intrigued by the serious alternative approaches outlined within the
book. It will also appeal to communities of economists outside
economics departments in government, industry and business as well
as business and management schools. Research centres for applied
economics, policy research and innovation research, will also find
it of interest due to its focus on getting reliable results rather
than methodological orthodoxy for its own sake.
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