The elusive concept of innovation for Schumpeter, Marschak and the early econometricians

Detalhes bibliográficos
Autor(a) principal: Louçã, Francisco
Data de Publicação: 2014
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/25911
Resumo: The modern concept of innovation is a crucial part of the analysis of capitalism as an adaptive system, and it is due to Schumpeter. Consequently, Schumpeter’s role as a “prophet of innovation” has been rightly emphasized. This paper contributes to that history presenting some of the difficulties Schum peter suffered as a formal representation of innovation was proposed by his fellow econometricians, as proved by the case of one of such dialogs, that with Jacob Marschak, at the time the director of the Cowles Commission and vice-president and then president of the Econometric Society. It is shown how Schumpeter elaborated his concepts of endogenous innovation and of industrial mutation as contrasted to the mechanical view of his fellow econometricians. Finally, the paper emphasizes the changes of the concept of randomness through the debate.
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spelling The elusive concept of innovation for Schumpeter, Marschak and the early econometriciansInnovationRandomnessSchumpeterMarschakEconometricsThe modern concept of innovation is a crucial part of the analysis of capitalism as an adaptive system, and it is due to Schumpeter. Consequently, Schumpeter’s role as a “prophet of innovation” has been rightly emphasized. This paper contributes to that history presenting some of the difficulties Schum peter suffered as a formal representation of innovation was proposed by his fellow econometricians, as proved by the case of one of such dialogs, that with Jacob Marschak, at the time the director of the Cowles Commission and vice-president and then president of the Econometric Society. It is shown how Schumpeter elaborated his concepts of endogenous innovation and of industrial mutation as contrasted to the mechanical view of his fellow econometricians. Finally, the paper emphasizes the changes of the concept of randomness through the debate.ElsevierRepositório da Universidade de LisboaLouçã, Francisco2022-11-04T14:32:03Z20142014-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/25911engLouçã, Francisco.(2014).” The elusive concept of innovation for Schumpeter, Marschak and the early econometricians”. Research Policy, Vol. 43: pp. 1442-1449info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:55:26Zoai:www.repository.utl.pt:10400.5/25911Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:38.678179Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
title The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
spellingShingle The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
Louçã, Francisco
Innovation
Randomness
Schumpeter
Marschak
Econometrics
title_short The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
title_full The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
title_fullStr The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
title_full_unstemmed The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
title_sort The elusive concept of innovation for Schumpeter, Marschak and the early econometricians
author Louçã, Francisco
author_facet Louçã, Francisco
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Louçã, Francisco
dc.subject.por.fl_str_mv Innovation
Randomness
Schumpeter
Marschak
Econometrics
topic Innovation
Randomness
Schumpeter
Marschak
Econometrics
description The modern concept of innovation is a crucial part of the analysis of capitalism as an adaptive system, and it is due to Schumpeter. Consequently, Schumpeter’s role as a “prophet of innovation” has been rightly emphasized. This paper contributes to that history presenting some of the difficulties Schum peter suffered as a formal representation of innovation was proposed by his fellow econometricians, as proved by the case of one of such dialogs, that with Jacob Marschak, at the time the director of the Cowles Commission and vice-president and then president of the Econometric Society. It is shown how Schumpeter elaborated his concepts of endogenous innovation and of industrial mutation as contrasted to the mechanical view of his fellow econometricians. Finally, the paper emphasizes the changes of the concept of randomness through the debate.
publishDate 2014
dc.date.none.fl_str_mv 2014
2014-01-01T00:00:00Z
2022-11-04T14:32:03Z
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/25911
url http://hdl.handle.net/10400.5/25911
dc.language.iso.fl_str_mv eng
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dc.relation.none.fl_str_mv Louçã, Francisco.(2014).” The elusive concept of innovation for Schumpeter, Marschak and the early econometricians”. Research Policy, Vol. 43: pp. 1442-1449
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dc.publisher.none.fl_str_mv Elsevier
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