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Joseph schumpeter and his legacy in innovation studies

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Knowledge, Technology & Policy

Abstract

Inspired by the recent rediscovery of work of Schumpeter in science and policymaking the author reviews and appraises Schumpeterian theory and that of his followers in innovation studies. Although Schumpeter’s vision suffers from some defects, I argue that there is more to learn from this author than his well-known idea of “creative destruction”. In particular, Schumpeter’s view on innovation policy is something that may have vital relevance to today’s increasingly policy-dominated world. We therefore conclude that besides his key ideas on innovation-led development also his policy view should be regarded as a significant legacy in innovation studies.

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  1. the University of Twente, Enschede, The Netherlands

    Gert-Jan Hospers (teaches economics and strategy)

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Hospers, GJ. Joseph schumpeter and his legacy in innovation studies. Know Techn Pol 18, 20–37 (2005). https://doi.org/10.1007/s12130-005-1003-1

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