Innovation and Industry Dynamics
Schumpeter (1911) puts innovation in the center of his theory of economic development. In the beginning, he linked innovative success purely to the entrepreneurial success of outstanding individuals in an economy. Thirty years later, Schumpeter (1942) – inspired by the development of US industries – identified a significant change in the organization of R&D processes in specialized R&D laboratories of large firms (routinized innovation). And another forty years later, again a significant change had taken place in the organization of R&D.
Unable to display preview. Download preview PDF.