Knowledge, Technology & Policy

, Volume 18, Issue 3, pp 20–37 | Cite as

Joseph schumpeter and his legacy in innovation studies

  • Gert-Jan Hospers
Article

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.

Keywords

Economic Change Innovation Policy Neoclassical Economist Creative Destruction Innovation Study 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Copyright information

© Transaction Publishers 2005

Authors and Affiliations

  • Gert-Jan Hospers
    • 1
  1. 1.the University of TwenteEnschedeThe Netherlands

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