Abstract
There is a growing interest in dynamic modeling of capitalism as recent experience has demonstrated the importance of innovation in shaping the structure and growth rate of capitalist nations. Economists recognize that innovation by its nature describes a dynamic, evolutionary model of capitalism which is inadequately described by the equilibrium models which have dominated economic thought since the 19th century.
The research reported herein was funded with grants received from the University of Nebraska at Omaha Faculty Research Committee. The author is especially indebted to Robert E. McAuliffe, Jr., Babson College, for his assistance, and Roy Thurik, Erasmus Universiteit Rotterdam and Zoltan J. Acs, WZB, for their helpful comments on earlier drafts.
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Kirchhoff, B.A. (1990). Creative Destruction among Industrial Firms in the United States. In: Acs, Z.J., Audretsch, D.B. (eds) The Economics of Small Firms. Studies in Industrial Organization, vol 11. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-7854-7_7
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DOI: https://doi.org/10.1007/978-94-015-7854-7_7
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