Schumpeter, Innovation and Growth

Schumpeter, Innovation and Growth Synopsis

This title was first published in 2003. Bringing together contemporary innovation pattern theories inspired by the two original patterns developed by Joseph A. Schumpeter, this book develops an innovative new 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 book examines different theories of technological change, and provides a detailed account of the long wave which makes 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 have taken place in the last 20 years, economists and students alike will find this volume an invaluable read.