This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

This study suggests a new concept of technology that is a main element of the system of technological change in society: killer or disruptive technology is a based on new products and/or processes that destroys the usage of established products/processes sold and used. The behavior of killer...

This study proposes the theory of technological parasitism that may be useful for bringing a new perspective to explain and generalize the evolution of technology directed to sustain competitive advantage of firms and nations. Technological parasitism explains the relationship of mutualistic...

This paper presents the origins of the Economics of innovation describing the economic thought of the economists in the Eighteenth and Nineteenth centuries. In this period and in particular during the Industrial Revolution the economists argue the main effects of inventions and machines for...

This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics. The benefit of our model is twofold. First, to discriminate between entrants' role of performing the entrepreneurial function of creating disequilibrium and the conventional...

Large corporations dominate economic and social life in the United States and around the globe. The mainstream corporate governance ideology of “shareholder primacy” claims that the exclusive purpose of a corporation is to generate returns for shareholders, which means that governance...

A vast literature exists on disruptive technologies. However, some fundamental questions are unknown, such as: how to measure the growth of disruptive technologies in competitive markets? How is the pathway of technological cycle of disruptive innovations? The study confronts these questions...

The fundamental problem in the field of technology studies is how technology evolves and sustains economic change in human society. This study confronts the problem here by proposing the theory of technological host-parasites coevolution, an approach that may be useful for bringing a new...

This study here categorizes innovations considering the taxonomic characteristics of interaction between technologies in complex systems. The proposed classification, in a broad analogy with the ecology, includes four categories of technology considering the typology of their interaction: 1)...

In climate change, as in all policy issues, economic philosophy has a significant influence on how people view both the problems and the solutions. For the first time, ITIF surveys four dominant schools of economic thought and analyzes how adherents approach policy options for climate change and...