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Frontiers of Economics in China

Front. Econ. China    2017, Vol. 12 Issue (3) : 418-449     https://doi.org/10.3868/s060-006-017-0018-5
Orginal Article
Technical Progress and the Diffusion of Innovations: Classical and Schumpeterian Perspectives
Heinz D. Kurz()
Department of Economics and Graz Schumpeter Centre, University of Graz, 8010 Graz, Austria
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Abstract

The paper discusses the diffusion of new technologies from the perspective of the classical economists and Schumpeter. After a comparison of the pre- and post-technical change long-period positions of the economy, we illustrate the process of transition between the two in terms of a two-sector model. Next, we turn to a system with joint production. The fact that some products may be “bads” that need to be disposed of leads to a study of systems of production-cum-disposal. Finally, we investigate the selection pressure innovations exert on incumbent firms. An important message is that technical change cannot generally be studied within a partial framework of the analysis.

Keywords classical economists      creative destruction      diffusion      disposal processes      innovation      joint production      Schumpeter      Joseph A.      selection pressure      technical change      transition processes     
Issue Date: 19 September 2017
 Cite this article:   
Heinz D. Kurz. Technical Progress and the Diffusion of Innovations: Classical and Schumpeterian Perspectives[J]. Front. Econ. China, 2017, 12(3): 418-449.
 URL:  
http://journal.hep.com.cn/fec/EN/10.3868/s060-006-017-0018-5
http://journal.hep.com.cn/fec/EN/Y2017/V12/I3/418
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