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Schumpeter's and Hayek's view of market coordination as being not about efficiency, but about endogenous change and …
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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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Schumpeterian, evolutionary theory of innovation and competition, and the classical, Sraffian theory of prices and distribution. Can … be learned to enrich these very different approaches to the long period evolution of capitalist economies. Schumpeter … system to the potential generated by the new ways of doing things. Schumpeter sensed this with his account of imitative …
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