Principles of Neo-Schumpeterian Economics

Posted: 16 Jun 2008

See all articles by Horst Hanusch

Horst Hanusch

University of Augsburg - Faculty of Business and Economics

Andreas Pyka

University of Augsburg

Date Written: March 2007


Within the last 25 years great progress has been made in Neo-Schumpeterian Economics, this branch of economic literature which deals with dynamic processes causing qualitative transformation of economies basically driven by the introduction of novelties in their various and multifaceted forms. By its very nature, innovation and, in particular, technological innovation is the most exponent and most visible form of novelty. However, Neo-Schumpeterian Economics should be concerned with all facets of open and uncertain developments in socio-economic systems. A comprehensive Neo-Schumpeterian approach therefore has to consider not only transformation processes going on, e.g., on the industry level of an economy, but also on the public and monetary side of an economic system. Our contribution introduces those extensions and complements to a comprehensive Neo-Schumpeterian economic theory, and develops some signposts in the sense of a roadmap for necessary strands of analysis in the future.

Keywords: Neo-Schumpeterian Economics, Industrial dynamics, Public finance, Financial markets

JEL Classification: O30, O40, L2, P0, G10, B52

Suggested Citation

Hanusch, Horst and Pyka, Andreas, Principles of Neo-Schumpeterian Economics (March 2007). Cambridge Journal of Economics, Vol. 31, Issue 2, pp. 275-289, 2007, Available at SSRN: or

Horst Hanusch (Contact Author)

University of Augsburg - Faculty of Business and Economics ( email )

Augsburg, 86135

Andreas Pyka

University of Augsburg ( email )

Augsburg, 86135

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