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Adopting evolutionary and behavioral approaches, this volume
presents the latest research advances in knowledge competencies and
human capital, as well as the changing structural dynamics,
highlighting their links with entrepreneurial activities. It
provides a set of international, benchmark case studies on
initiatives (at the national, regional or individual level) geared
towards entrepreneurship development. Focusing on diverse
environments, systems and life cycle stages: young, established and
transition industries and markets; as well as regions, it offers a
valuable guide for scholars and practitioners interested in the
interaction of entrepreneurship, knowledge competencies, human
resources management and innovation.
Adopting evolutionary and behavioral approaches, this volume
presents the latest research advances in knowledge competencies and
human capital, as well as the changing structural dynamics,
highlighting their links with entrepreneurial activities. It
provides a set of international, benchmark case studies on
initiatives (at the national, regional or individual level) geared
towards entrepreneurship development. Focusing on diverse
environments, systems and life cycle stages: young, established and
transition industries and markets; as well as regions, it offers a
valuable guide for scholars and practitioners interested in the
interaction of entrepreneurship, knowledge competencies, human
resources management and innovation.
The book illustrates the considerable advances in modern
evolutionary economics and addresses core questions of economic
behaviour, interaction of heterogeneous actors in uncertain
environments and the possibility of aggregating observations on a
macro-economic level. It presents the foundations of economic
change as the major building blocks of an economic approach that
focusses on complex processes driven by endogenous innovation as
well as crisis. The theoretical considerations are complemented by
econometric studies to demonstrate the relevance of
evolutionary-economic thinking to improve our understanding of the
most challenging issues related to economic growth and development.
This volume is devoted to innovation with a special focus on its
two sides, namely creation and destruction, and on its role in the
evolution of capitalist economies. The first part of the book looks
at innovation and its effects on economic performance, addressing
issues of motives, behavioral rules under uncertainty, actor
properties, and technology characteristics. The second part
concentrates on potential consequences of innovative activities, in
particular structural change, the "innovation-mediated" effect of
skill-oriented policies on regional performance, the destructive
effects of innovation activities, and the question whether novelty
is always good. The role of innovation in the evolution of
capitalism itself is discussed in the third part.
This judicious selection of recent essays demonstrates the
applicability of the fundamental principles of neo-Schumpeterian
economics, namely, innovation and uncertainty. The authors
demonstrate how neo-Schumpeterian economics is developing into a
comprehensive economic theory encompassing industry, the public
sector and financial markets. Neo-Schumpeterian economics has
become a prolific field with a major orientation towards
innovation-driven industrial dynamics. However, a truly
comprehensive neo-Schumpeterian approach argues that innovation is
also an important element in both the public and financial sectors.
For example, a lack of public infrastructure or speculative bubbles
in financial markets can hinder or even prevent economic
development. The expert contributions to this book deal with the
future orientation of the subject in terms of innovative
performance in the industrial, financial and public sectors. Recent
Advances in Neo-Schumpeterian Economics can be considered a first
attempt to substantiate the comprehensive neo-Schumpeterian
approach, of which Horst Hanusch has been a leading proponent. This
unique and path-breaking book will be of great interest and value
to researchers in the fields of innovation, industrial economics,
financial markets and the public sector.
Recent developments in economics have gone from the recognition of
the importance of innovation for growth and the exploration of
innovation mechanisms to the incorporation of the results of the
previous research into economic models. An important lesson to be
drawn from all this research is that a purely macro-based analysis
of growth is not enough. The various mechanisms of innovation
creation and diffusion, the importance of agent heterogeneity, of
market selection processes, of the internal organization of the
firm and of organizational routines, and the obsolescence and the
consequent emergence of new types of capital goods are a few
examples of micro-economic phenomena that contribute decisively to
macro-economic development. The papers in this volume approach
those issues from a Schumpeterian point of view and tackle issues
like the growing importance of knowledge and human capital;
increasing returns and path dependence; the role of variety in
economic growth; competition and industry evolution.
This volume is devoted to innovation with a special focus on its
two sides, namely creation and destruction, and on its role in the
evolution of capitalist economies. The first part of the book looks
at innovation and its effects on economic performance, addressing
issues of motives, behavioral rules under uncertainty, actor
properties, and technology characteristics. The second part
concentrates on potential consequences of innovative activities, in
particular structural change, the "innovation-mediated" effect of
skill-oriented policies on regional performance, the destructive
effects of innovation activities, and the question whether novelty
is always good. The role of innovation in the evolution of
capitalism itself is discussed in the third part.
The twelve papers in this collection grew out of the workshop on
"Eco nomic Evolution, Learning, and Complexity" held at the
University of Augsburg, Augsburg, Germany on May 23-25, 1997. The
Augsburg workshop was the second of two events in the
Euroconference Series on Evolutionary Economics, the first of which
was held in Athens, Greece in September 1993. A special issue of
the Journal of Evolutionary Econo mics (1993(4)) edited by Yannis
Katsoulacos on "Evolutionary and Neo classical Perspectives on
Market Structure and Economic Growth" con tains selected papers
from the Athens conference. The Athens conference explored
neoclassical and evolutionary perspectives on technological
competition and increasing returns. It helped to identify the dis
tinguishing features of evolutionary scholarship. The Augsburg
workshop was more oriented toward exploring methodological issues
in evolutiona of the papers employed new me ry and related
scholarship. A number thods, such as genetic programming and
experimental analysis, some developed new econometric techniques or
raised new empirical issues in evolutionary economics, and some
relied on simulation techniques. Twelve papers covering a range of
areas were selected for this collection. The papers address central
issues in evolutionary and Schumpeterian accounts of industrial
competition, learning, and innovation."
For as long as one can remember, the edifice of the neoclassical
economic syn thesis has been under attack. Critiques have focused
on the extreme unreality of the assumptions that underpin the
Arrow-Debreu theorems of welfare economics. They have queried the
excessive formalism of the edifice, and the lack of practical
significance of many of the results.They have castigated the
neoclassical synthesis for its internal incoherence (lacking an
independent theory of capital, for example, one of the favorite
topics of the Cambridge school), its lack of a dynamic element, its
non-evolutionary character, its lack of any conception of "market
process" and so the list could be continued (Blaug, 1997). Through
all this, the neoclassi cal synthesis remains as strong as ever,
impervious it seems to these or any other attacks. In this paper a
different tack is taken. The neoclassical edifice is left alone,
standing as a representation of what goes on in a certain kind
ofeconomy- namely the economy wheregoods and services are
producedand exchanged. The paper then introduces another kind of
economy, namely an economy of productive entities called
"resources"- that are needed to produce the economyofgoods and
services."
Joseph Schumpeter oscillated in his view about the type of economic
system that was most conducive to growth. In his 1911 treatise,
Schumpeter argued that a more decentralized and turbulent industry
structure where the pro cess of creative destruction was triggered
by vigorous entrepreneurial ac tivity was the engine of economic
growth. But by 1942 Schumpeter had modified his theory, arguing
instead that a more centralized and stable industry structure was
more conducive to growth. According to Schum peter (1942, p. 132),
under the managed economy there was little room for
entrepreneurship because, "Innovation itself is being reduced to
routine. Technological progress is increasingly becoming the
business of teams of trained specialists who turn out what is
required to make it work in pre dictable ways" (p. 132). Schumpeter
(1942) reversed his earlier view by arguing that the integration of
knowledge creation and appropriation be stowed an inherent
innovative advantage upon giant corporations, "Since capitalist
enterprise, by its very achievements, tends to automize progress,
we conclude that it tends to make itself superfluous - to break to
pieces under the pressure of its own success."
Silicon Valley is the most salient example of high-tech industrial
clusters. Public
policymakersthroughouttheworldwouldliketolearnthesecretsofSiliconValley
in order to build their own high-tech economies. The existing
literature on ind- trial clusters, which traces back to Marshall
(1920), focuses on the way in which ?rms bene't from locating in a
cluster; it suggests that once a cluster comes into existence, it
tends to reinforce itself by attracting more ?rms. However, a more
important question is how to reach this critical mass in the ?rst
place. In contrast to the literature, evidence suggests that
entrepreneurs rarely move when they est- lish high-tech start-ups
(Cooper and Folta, 2000). This contradicts the notion that location
choice analyses lead entrepreneurs to a high-tech cluster. A
high-tech industrial cluster such as Silicon Valley is
characterized by c- centratedentrepreneurship. FollowingSchumpeter,
weemphasizethefactthat"the appearance of one or a few entrepreneurs
facilitates the appearance of others" (Schumpeter,1934).
Weproposeanagent-basedcomputationalmodeltoshowhow high-tech
industrial clusters could emerge in a landscape in which no ?rms
existed originally. The model is essentially a spatial version of
the Nelson-Winter model: Boundedly rational agents are scattered
over an explicitly de?ned landscape. Each agent is endowed with
some technology, which determines his ?rm's productivity (if he has
one). During each period of time, an agent with no ?rm would make a
decision as to whether he wants to start one. This decision is
mostly affected by the behavior of his social contacts, who are all
his neighbors.
This book provides an account of work in the Schumpeterian and
evolutionary tradition of industrial dynamics and the evolution of
industries. It is shown that over time industries evolve and change
their structure. In this dynamic process, change is affected and
sometimes constraint by many factors, including knowledge and
technologies, the capabilities and incentives of actors, new
products and processes, and institutions.
Recent developments in economics have gone from the recognition of
the importance of innovation for growth and the exploration of
innovation mechanisms to the incorporation of the results of the
previous research into economic models. An important lesson to be
drawn from all this research is that a purely macro-based analysis
of growth is not enough. The various mechanisms of innovation
creation and diffusion, the importance of agent heterogeneity, of
market selection processes, of the internal organization of the
firm and of organizational routines, and the obsolescence and the
consequent emergence of new types of capital goods are a few
examples of micro-economic phenomena that contribute decisively to
macro-economic development. The papers in this volume approach
those issues from a Schumpeterian point of view and tackle issues
like the growing importance of knowledge and human capital;
increasing returns and path dependence; the role of variety in
economic growth; competition and industry evolution.
This book provides an account of work in the Schumpeterian and
evolutionary tradition of industrial dynamics and the evolution of
industries. It is shown that over time industries evolve and change
their structure. In this dynamic process, change is affected and
sometimes constraint by many factors, including knowledge and
technologies, the capabilities and incentives of actors, new
products and processes, and institutions.
Silicon Valley is the most salient example of high-tech industrial
clusters. Public
policymakersthroughouttheworldwouldliketolearnthesecretsofSiliconValley
in order to build their own high-tech economies. The existing
literature on ind- trial clusters, which traces back to Marshall
(1920), focuses on the way in which ?rms bene't from locating in a
cluster; it suggests that once a cluster comes into existence, it
tends to reinforce itself by attracting more ?rms. However, a more
important question is how to reach this critical mass in the ?rst
place. In contrast to the literature, evidence suggests that
entrepreneurs rarely move when they est- lish high-tech start-ups
(Cooper and Folta, 2000). This contradicts the notion that location
choice analyses lead entrepreneurs to a high-tech cluster. A
high-tech industrial cluster such as Silicon Valley is
characterized by c- centratedentrepreneurship. FollowingSchumpeter,
weemphasizethefactthat"the appearance of one or a few entrepreneurs
facilitates the appearance of others" (Schumpeter,1934).
Weproposeanagent-basedcomputationalmodeltoshowhow high-tech
industrial clusters could emerge in a landscape in which no ?rms
existed originally. The model is essentially a spatial version of
the Nelson-Winter model: Boundedly rational agents are scattered
over an explicitly de?ned landscape. Each agent is endowed with
some technology, which determines his ?rm's productivity (if he has
one). During each period of time, an agent with no ?rm would make a
decision as to whether he wants to start one. This decision is
mostly affected by the behavior of his social contacts, who are all
his neighbors.
Joseph Schumpeter oscillated in his view about the type of economic
system that was most conducive to growth. In his 1911 treatise,
Schumpeter argued that a more decentralized and turbulent industry
structure where the pro cess of creative destruction was triggered
by vigorous entrepreneurial ac tivity was the engine of economic
growth. But by 1942 Schumpeter had modified his theory, arguing
instead that a more centralized and stable industry structure was
more conducive to growth. According to Schum peter (1942, p. 132),
under the managed economy there was little room for
entrepreneurship because, "Innovation itself is being reduced to
routine. Technological progress is increasingly becoming the
business of teams of trained specialists who turn out what is
required to make it work in pre dictable ways" (p. 132). Schumpeter
(1942) reversed his earlier view by arguing that the integration of
knowledge creation and appropriation be stowed an inherent
innovative advantage upon giant corporations, "Since capitalist
enterprise, by its very achievements, tends to automize progress,
we conclude that it tends to make itself superfluous - to break to
pieces under the pressure of its own success."
Mikrookonomisch fundierte Einfuhrung: Sie zeigt, wie man auch
ohne Vorkenntnisse der Produktionsfunktion zu Aussagen uber die
produktive Effizienz kommen kann. Die Autoren stellen den Ansatz
der nichtparametrischen Frontierfunktionsanalyse vor und erweitern
ihn uber verschiedene Schritte. Diese Schritte umfassen die Analyse
verschiedener Formen variabler Skalenertrage und die Ermittlung der
produktivsten Unternehmensgrosse."
Das Lehrbuch Volkswirtschaftslehre 1 prasentiert eine leicht
verstandliche und moderne Einfuhrung in die volkswirtschaftliche
Theorie und Politik. Es werden die Grundlagen der Nationalokonomie
erlautert, die vor allem fur Studierende der Anfangssemester an
Hochschulen und Wirtschaftsakademien von grosser Bedeutung sind.
Basierend auf einer Erklarung elementarer Begriffe und Prinzipien
der Volkswirtschaftslehre befasst sich der zweite und dritte Teil
des Buches mit den grossen Teilgebieten dieses Faches, namlich der
Mikro- und der Makrookonomie. Der gesamte Lehrstoff wird durch
Graphiken und Zahlenbeispiele erganzt und enthalt zudem zahlreiche
aktuelle Bezuge, um wichtige Zusammenhange hervorzuheben. Der
geplante Band Volkswirtschaftslehre" "2 vertieft zentrale Themen
der Mikro- und Makrookonomie und erweitert diese um neue
Fragestellungen."
In einem Zwei-Lander Aussenhandelsmodell ricardianischer Provenienz
werden der Einfluss international unterschiedlicher
Technologieniveaus sowie verschiedener Arten technischen
Fortschritts auf das Einkommen und die Aussenhandelsstruktur der
Handelspartner wirkungsanalytisch untersucht. Im Zentrum stehen der
Prozess- und der Produktfortschritt als jeweils verschiedene
Spielarten des Catch-up bzw. Forging-ahead. Die traditionelle
aussenhandelstheoretische Analyse technischen Fortschritts,
ausschliesslich verstanden als Verbesserung der
Produktionstechnologie, wird so um den Produktfortschritt
erweitert, und die dabei auftretenden unterschiedlichen
analytischen Ergebnisse werden einander gegenubergestellt."
Der vorliegende zweite Teil des Lehrbuches baut inhaltlich auf dem
ersten Band auf. Dies gilt insbesondere in dem Sinne, dass das
Denken und Arbeiten auf modelltheoretischer Grundlage
weiterentwickelt wurde. Beide Teile des Lehr- buches zusammen
bieten sowohl eine UEbersicht uber wesentliche Bestandteile der
modernen Nationaloekonomie, mit Hilfe derer sich aktuelle Fragen
und Entwicklungen besser verstehen lassen, als auch eine Einfuhrung
in die mathe- matische OEkonomie. Ein grundliches Studium beider
Bande wird dem Leser das Verstandnis erganzender und
komplizierterer Literatur erleichtern. Zu diesem Zweck fugen wir
eine Liste ausgewahlter Lehrbucher und Monographien bei. Wie auch
im ersten Band endet jedes Kapitel mit einer Anzahl von Fragen und
Aufgaben, damit das Denken in Annahmen und daraus resultierenden
Schlussfolgerungen geubt werden kann. Schliesslich sei noch
erwahnt, dass das Buch nicht nur analytische, sondern auch
Entscheidungsmodelle bespricht, wobei mir die Entscheidungsmodelle
des hollandischen Centraal Planbureaus auf dem Hintergrund der
wirtschaftlichen und wirtschaftspolitischen Entwicklung fur die
Bundesrepublik Deutschland von besonderer Bedeutung zu sein
scheinen. Es ist mir ein grosses Bedurfnis, an dieser Stelle Herrn
PETER HUBER fur die UEbersetzung des hollandischen Textes zu
danken. Er hat es meines Erachtens verstanden, wesentliche
Charakteristika der erfolgreichen hollandischen Aus- gabe in der
deutschen Fassung zu berucksichtigen. Schliesslich moechte ich
darauf hinweisen, dass dieser zweite Band in etwa der 1. Auflage
des hollandischen Originaltextes De Kern van de Economie, deel2
entspricht, an der mein Assistent Dr. R. ScHOENDORFF mitgearbeitet
hat. Ich danke ihm fur seine Bereitschaft, gewissen AEnderungen im
Interesse der deutschen Ausgabe zuzustimmen .
This volume contains a collection of papers all concerned with
the exploration of economic and social dynamics in relation to the
innovation process and its outcomes. This theme is firmly rooted in
the Schumpeterian tradition in which an economic perspective is
mutually embedded in a wider awareness of the role of other
disciplines. Indeed since Schumpeter's time, the degree of
specialisation within the social sciences has risen many fold, new
sub disciplines continue to emerge, highly specialised theoretical
tools and empirical methods continue to be developed, and new
fields for the study of management and business overlap with the
more traditional social sciences. There is, consequently, a need
for connecting principles to offset the dangers of intellectual
fragmentation. Evolutionary economics and evolutionary analysis
more generally, certainly provide some of these connecting
principles. The various contributions to this volume reflect upon
this research programme in a number of ways.
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