Knowledge Creation, Entrepreneurship, and Economic Growth: A Historical Review

Posted: 8 Dec 2009

See all articles by Bo Carlsson

Bo Carlsson

Case Western Reserve University - Department of Economics

Zoltan J. Acs

Schar School of Policy and Government

David B. Audretsch

Indiana University - Institute for Development Strategies; King Saud University; WHU - Otto Beisheim School of Management; Indiana University Bloomington - School of Public & Environmental Affairs (SPEA)

Pontus Braunerhjelm

Royal Institute of Technology (KTH) - Department of Infrastructural and Urban Planning (INFRA); Örebro University - Swedish Entrepreneurship Forum

Date Written: December 2009

Abstract

This article explores the relationship between knowledge creation, entrepreneurship, and economic growth in the United States over the last 150 years. Distinguishing between general knowledge and economically useful knowledge, we examine the changes over time in the locus and content of new knowledge creation: the role of universities, particularly engineering schools and land-grant universities, industrial laboratories, and corporate research and development (R&D) laboratories prior to World War II. The practical orientation of US academic R&D and the close research interaction between academia and industry are noted. We study the unprecedented increase in R&D spending in the United States during and after World War II and how it was converted into economic activity via incumbent firms in the early postwar period and increasingly via new ventures in the last few decades.

Suggested Citation

Carlsson, Bo and Acs, Zoltan J. and Audretsch, David B. and Braunerhjelm, Pontus, Knowledge Creation, Entrepreneurship, and Economic Growth: A Historical Review (December 2009). Industrial and Corporate Change, Vol. 18, Issue 6, pp. 1193-1229, 2009. Available at SSRN: https://ssrn.com/abstract=1518782 or http://dx.doi.org/dtp043

Bo Carlsson (Contact Author)

Case Western Reserve University - Department of Economics ( email )

Cleveland, OH 44106
United States

Zoltan J. Acs

Schar School of Policy and Government ( email )

Founders Hall
3351 Fairfax Dr.
Arlington, VA 22201
United States
703-993-1780 (Phone)

HOME PAGE: http://home.ubalt.edu/zacs

David B. Audretsch

Indiana University - Institute for Development Strategies ( email )

1315 East Tenth Street
Bloomington, IN 47405
United States
812-855-6766 (Phone)
812-855-0184 (Fax)

King Saud University ( email )

Riyadh, 11451
Saudi Arabia

WHU - Otto Beisheim School of Management ( email )

Burgplatz 2
Vallendar, 56179
Germany

Indiana University Bloomington - School of Public & Environmental Affairs (SPEA) ( email )

1315 East Tenth Street
Bloomington, IN 47405
United States

Pontus Braunerhjelm

Royal Institute of Technology (KTH) - Department of Infrastructural and Urban Planning (INFRA) ( email )

SE-100 44 Stockholm
Sweden
+46 8 790 9114 (Phone)
+46 8 411 7436 (Fax)

Örebro University - Swedish Entrepreneurship Forum ( email )

Södra Kungstornet
Kungsgatan 33, 7tr
Stockholm, 11156
Sweden

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