Innovation in the Economic Thought from the 18th to the 20th Century: Analysis of Selected Issues
Journal Title: Acta Universitatis Nicolai Copernici, Ekonomia - Year 2012, Vol 43, Issue 1
Abstract
The paper is a review of economic thought with regard to technological change, inventions and innovations commencing from the legacy of Adam Smith and ending on the work of Michał Kalecki. The works of Solow, Swan, Arrow, Lucas and Romer which examined the role of technological change in economic growth and identified the factors determining this change are featured. The changing nature of globalisation and its impact on circumstances responsible for knowledge creation, diffusion and absorption is emphasised, as well as the existence of networks - a prerequisite of taking advantage of human capital and the research and development sector. The view that all new knowledge should be patented is contrasted with an open innovation model.
Authors and Affiliations
Natalia Gust-Bardon
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