The paper elaborates and tests two hypotheses. First, that knowledge is not a homogeneous activity, but rather a bundle of highly differentiated disciplines that have different characteristics, both in terms of generation and exploitation, that bear a differentiated impact on economic growth....

The paper implements the Schumpeterian notion of creative reaction to articulate and test the hypothesis that the shift to the knowledge economy in advanced economies is the result of the creative reaction of firms, caught in out - of - equilibrium conditions by the fast globalization of product...

The paper provides an interpretative framework and structured empirical evidence of the processes leading to the emergence of a light and slow growth economy in advanced countries. The interpretative framework rests upon the grafting of a) the Schumpeterian hypothesis about the determinants of...