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We present the theory of the collaborative innovation bloc (CIB), an evolving system of innovation within which activity takes place over time. We show how the application of the CIB perspective can help make institutional and evolutionary economics more concrete, relevant, and persuasive,...
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In Capitalism, Socialism and Democracy, Joseph A. Schumpeter concluded that socialism would eventually displace … capitalism in Western democracies. This would come about as a result of the superior performance of capitalism. We extract six … "stylized" propositions that are essential elements of Schumpeter's prediction about the fate of capitalism. These propositions …
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