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.
Table of Contents
Contents: Introduction; Schumpeterian innovation patterns and the long wave; Innovation theories of long waves; Escalating logistic functions for modeling historical processes; An empirical analysis of growth in the leading U.S. manufacturing industries between 1947 and 1995; Conclusion; Bibliography; Index.
MÃ¼mtaz Keklik, United Nations Development Programme, Kathmandu, Nepal. The views expressed in this book are the author's own and do not necessarily represent those of the United Nations or its governing bodies.
’This book is most interesting. This is the most profound attempt I know to connect the Schumpeter concept of entrepreneurship and examine its relation to Marx’s writings on long-term cycles. It is an important book.’ E.K. Hunt, Professor and Chair, Department of Economics, University of Utah, USA ’Keklik weaves together a compelling argument based on a novel rereading of neo-Schumpeterian literature with Marxian questions in mind. A must read.’ Korkut A. Erturk, Associate Professor of Economics, University of Utah, USA ’This book contains highly original research and is a fine blend of theoretical and empirical analysis. It gives a unified account of Schumpeter’s earlier and later views on innovation, entrepreneurship, competition and industry life-cycle. These ideas are linked to the Marxian theory of the long-wave and are tested on the U.S. data. The book deserves serious attention from economists working on industrial organization, technical change and economic development.’ Professor Ajit Singh, Cambridge University, UK