Comparative analysis of Marx and Schumpeter's views and vision on various aspects like Capitalism has greatly interested academicians. Their understanding of aspects like Capitalism’s creative destruction has been a matter of deliberation for many great scholars in the past. Technology today...

The purpose of this paper is to discuss the importance of knowledge, both tacit and codified, in the formation of the state of long-term expectations that drive firms' decisions to search for innovation and to investment in R&D. The paper takes the post-Keynesian theory as reference, associating...

The Schumpeterian way of thinking for the analysis of innovation, as an evolutionary socioeconomic phenomenon, seems to be still of particular usefulness while the fundamental contribution by Nelson and Winter with the “evolutionary theory of economic change” is nowadays one of the most...

Studies of the 2007-09 credit crisis and the resulting recession have revealed the inadequacy of the predominant theoretical frameworks and their failure to propose adequate policy solutions. The presence in the economy of “bank money” and a financial system (not only constituted by banks)...

This paper develops a theory of the emergence of modern innovation-driven Schumpeterian growth. It uses a tractable model that yields a closed-form solution, consisting of an S-shaped (i.e., logistic-like) time path of firm size and a set of equations that express the relevant endogenous...

In the last decades the world changed dramatically. From a global point of view three disruptive processes are on their way which can be called revolutionary: a political, a technological and an economic revolution. This paper aims to give an overview when and how these movements started what...

Western economies nowadays are confronted with a predicted productivity slowdown resulting in diminishing rates of economic growth. While some scholars see these developments as an indication of the approaching end of growth due to fully exploited technological opportunities, this article...

What drove the UK productivity slowdown post-GFC, and how is the post-Covid recovery expected to differ? This paper traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation, using registry data on the universe of firms. The...