In Capitalism, Socialism and Democracy Joseph A. Schumpeter concluded that socialism would eventually displace … "stylized" propositions that are essential elements of Schumpeter's prediction about the fate of capitalism. These propositions … capitalism in Western democracies. This would come about as a result of the superior performance of capitalism. We extract six …

External financing is important when inventors and small technology-based firms wish to commercialize their inventions …, since inventors know more about the inventions than do potential external financiers. To overcome these problems, the …

innovations have been introduced in the market. This paper applies a new method to identify innovations in patent databases by … forward citations. Further, successful innovations are most positively related to patent renewal. Based on the traditional … innovations can be predicted. The developed parameters may be used to identify innovations across sectors and regions in other …

According to Schumpeter, the creative process of economic development can be divided into three distinguishable stages … of invention, innovation (commercialization) and imitation. We show why there is a rationale for the Schumpeterian … entrepreneur to also include the inventor in the innovation process. In addition, we provide a framework where the theories of …