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This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both positive and normative implications for growth. In positive terms, the prospect of a high level of.
View Creative Destruction Research Papers on Academia.edu for free.Abstract This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both positive and normative implications for growth.Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with the exception of Witt (1996).
Research Output (20052) Datasets (65) Student theses (956) Research Output 1971 2022. 11589 Article; 2898 Chapter; 1725 Paper; 855.Read More
Fearing creative destruction, firms may choose to hoard data they own, leading to the inefficient use of nonrival data. Instead, giving the data property rights to consumers can generate allocations that are close to optimal. Consumers balance their concerns for privacy against the economic gains that come from selling data to all interested parties. History of Revisions: August 2019 (Version.Read More
GLOBAL DESTRUCTION 5 The rest of the paper is organized as follows. Section 2 lays out eight facts from U.S. and Canadian manufacturing that we attempt to explain. In Section 3 we present a two-country model of creative destruction and growth with ex-ogenous innovation rates. Section 4 endogenizes the innovation rates. Section 5 concludes.Read More
Innovation: Mapping the winds of creative destruction. Support for research underlying this paper was provided by the Division of Research, Harvard University Graduate School of Business Administration, whose contribution is gratefully acknowledged. Appreciation is also expressed to those colleagues who provided encouragement and ideas, especially George White, Alan Kantrow, Richard.Read More
Creative destruction is an economic theory of innovation popularised by Austrian economist Joseph Schumpeter. In this paper, Schumpeter’s theories are used to explain how radical technological innovations in information-intensive industries are influencing the erosion of traditional industry and market boundaries leading to the emergence of new competitive business models and strategies.Read More
Creative Destruction and Subjective Well-Being. Translational Research on Aging, Grant P30 AG024928. Akcigit gratefully acknowledges financial support from the National Science Foundation, Ewing M. Kauffman Foundation, and from the Alfred P. Sloan Foundation. Roulet gratefully acknowledges financial support from the NSF-IGERT Program in Inequality and Social Policy at Harvard University and.Read More
The concept of innovation is widely used in all walks of life - the effort of Schumpeter’s paradoxical term, “creative destruction” became highly prominent in the 1950s, which many economists in recent time have endeavoured to linked with free market economics (Cozzi and Galli, 2019; Benigno and Fornaro, 2018). Creative destruction as proposed by Schumpeter, and also explained by Alm and.Read More
Downloadable! In this paper we analyze the relationship between turnover-driven growth and subjective well-being. Our model of innovation-led growth and unemployment predicts that: (i) the effect of creative destruction on expected individual welfare should be unambiguously positive if we control for unemployment, less so if we do not; (ii) job creation has a positive and job destruction has a.Read More
Creative destruction is an economy principle that an economist Joseph Schumpeter observed in 1942 (Scherer, 1986).The advancement of new markets that might be foreign or domestic, illustrate the process of industrial mutation that instantly revolutionizes the.Read More