Volume 44, Number 174,
July-September 2013
Schumpeter and the Post-Schumpeterians:
Old and New Dimensions of Analysis
Gabriel Yoguel, Florencia Barletta
and Mariano Pereira
Creative Destruction and the Emergence of Innovatio ( ...continuation )

In keeping with Schumpeter’s ideas in C7, Antonelli (2011) proposes that companies innovate when they find themselves outside of equilibrium conditions. This occurs when their profits are below or above what they perceive as normal. Antonelli also assigns a key role to the creative response of agents in the process of technological change and indicates that agent reactions — whether creative or adaptive — depend on the network of interactions in which companies are immersed. Innovation therefore constitutes an emerging property of the economic system — an endogenous variable — that depends on the intentional creative behavior of agents in unstable conditions and on the architecture of connections in which they are immersed. From the theoretical framework of complexity, other authors have proposed that the process of creative destruction and the emergence of innovation are key ideas in understanding the Schumpeterian dynamics of economic systems. For example, Foster (2000) maintains that the notion of creative destruction is compatible with the self-organizing mechanism of the economic system and with a process of endogenous structural change that operates in unstable conditions. Likewise, Dopfer (2006) proposes that Schumpeter — especially in the ted — does indeed cover the micro, meso and macro dimensions. In the first realm, the origin of rules is reflected in how entrepreneurs implement new combinations and install new conditions (rules) for the functioning of existing systems. The meso plane is constituted by a set of agents — either new or existing — that imitate entrepreneurs (spreading and adoption of rules). The macro dimension is the process of creative destruction that results in economic development from within. In the process of the origin, adoption and retention of rules, Schumpeter has a few errors to explain: i) the creation of new ideas and their innovative potential, ii) the retention of adopted innovations and iii) the stability of the process to update the rules that feed the emergence of new ideas and, as a result, facilitate the process of creative destruction. With regards to these questions, some authors (Dopfer, 2006 and Witt, 2002) have proposed that one of the main errors in Schumpeterian thought is that it does not provide an appropriate micro framework to explain the economic dynamics of knowledge generation, because Schumpeter believes that it is not creation, but rather the spread and transport of ideas, that is most relevant to addressing economic development.

This section sought to provide an account of the rebirth of Schumpeterian thought following the publication of Nelson and Winter’s book. Schumpeter’s main ideas and the dimensions absent in his theoretical development are points of debate and dialog for economists from different schools of thought, highlighting the wealth of theory present in his writings and extending the limits of his work. Some of the new contributions include the following: i) the idea of routines and capacity building, ii) the central importance of knowledge in development and innovation, iii) the role of institutions in generating dynamic capacities, iv) the importance of interactions among agents and positive feedback with capacities to explain innovation as an emerging property of the system, v) the function of demand to make possible the success of new combinations in the market, vi) the systemic nature of innovation and vii co-evolution between the competition process and structural change.

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PROBLEMAS DEL DESARROLLO. REVISTA LATINOAMERICANA DE ECONOMÍA, Volume 49, Number 195 October-December 2018 is a quarterly publication by the Universidad Nacional Autónoma de México, Ciudad Universitaria, Coyoacán, CP 04510, México, D.F. by Instituto de Investigaciones Económicas, Circuito Mario de la Cueva, Ciudad Universitaria, Coyoacán,
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