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exploited technological opportunities, this article contends that the possibilities for radical, paradigm changing innovations … are far from being exploited. Building on contributions from Schumpeter and Georgescu-Roegen, we argue that the human … recently developed concept of Dedicated Innovation Systems (DIS). We conclude that traditional macro-level indicators are not …
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A Schumpeterian process of creative destruction can induce a rational herd behavior by entrepreneurs across various sectors of the economy that may look like it is fuelled by "animal spirits." Across cyclical economies, a negative relationship emerges between volatility and growth, and the...
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