Schumpeter, Innovation and Growth: Long-cycle Dynamics in the Post-WWII American Manufacturing Industries
Bringing together contemporary innovation pattern theories inspired by the two original patterns developed by Joseph A. Schumpeter, this text develops a model of long wave aggregate level economic activity. This model is rigorously tested with post-war US manufacturing data, revealing an intriguing correlation between the data and the model. The author examines different theories of technological change, and provides a detailed account of the long wave which seeks to make use of the relevant aspects of these theories, without betraying their main features and messages. These theories are synthesized and shown to be consistent with the development of post-war US manufacturing. Shedding light on the dynamics of the technological advances that took place in the last 20 years of the 20th century, economists and students alike should find this volume of interest.
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Schumpeterian Innovation Patterns and the Long Wave
Innovation Theories of Long Waves
Escalating Logistic Functions For Modeling Historical
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argued Audretsch average ROC basic capital accumulation capitalist clusters concentration ratios deepening patterns diffusion Duijn economic emergence Equation 3.1 evolutionary exit and entry Figure growth performance growth rates important improvement innovations industrial concentration industry turbulence innovation patterns innovative activity Kleinknecht large firms logistic equation logistic function logistic pattern long cycle long wave long-term Mandel manufacturing industries manufacturing sector market structure mature Mensch merger activity mergers and acquisitions microelectronics neo-Schumpeterian number of mergers numbers of exit old leading industries oligopolistic Orsenigo output levels overall parameter patterns of innovation period between 1947 phase process innovations products and processes profit rates pseudo innovations radical innovations rate of profit recovery inflection point rejuvenate relative recovery Schumpeter Mark Schumpeterian small firms surplus value techno-economic paradigm technological paradigm technological regime conditions technological revolution technological stalemate theories total manufacturing total number turbulence in terms two-digit industries U.S. manufacturing upswing value added widening pattern