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are far from being exploited. Building on contributions from Schumpeter and Georgescu-Roegen, we argue that the human …
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within a dynamical system approach to the Arrow-Debreu theory of general equilibrium. In this framework two basic forms of … economic life studied by Schumpeter, i.e., the circular flow and economic development are investigated as specific properties … Schumpeterian vision of economic development. -- diversity ; Schumpeterian evolution ; Arrow-Debreu theory ; dynamic system approach …
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Innovation is the major driver of economic growth and development. To analyze innovation processes the restriction of a framework suited to the analysis of innovation towards the industrial sphere of an economy is not sufficient because of the important co-evolutionary dimensions of innovation....
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Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital model and the Hollywood motion picture industry to illustrate how specialized institutions that regulate these entrepreneurial ecosystems emerged through actions by business...
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