Schumpeter on Queen Elizabeth’s Stockings and the Co-Evolutionary Nature of Innovation
28 Pages Posted: 26 Dec 2009
There are 2 versions of this paper
Schumpeter on Queen Elizabeth’s Stockings and the Co-Evolutionary Nature of Innovation
Schumpeter on Queen Elizabeth’s Stockings and the Co-Evolutionary Nature of Innovation
Date Written: August 1, 2009
Abstract
Drawing from Schumpeter’s ideas on innovation, we investigate its co-evolutionary nature. We find that Schumpeterian forces of “creative destruction” and “creative accumulation” do not operate in separate domains but rather form a co-evolutionary process of innovation. Co-evolutionary trends are prevalent in as diverse industries as information and communication technologies (ICT) and women’s stocking, and our terse glance through the history of innovation in the stockings industry from Queen Elizabeth I era to the present reveals how “creative destruction” and “creative accumulation” have been operating in unison to spur and spawn innovation. We discuss the implications of our findings with reference to the pace of innovative activity.
Keywords: Schumpeter, innovation, creative destruction, creative accumulation, ICT
JEL Classification: C0, C6, D4, D9, L1
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Two-Sided Platforms: Pricing and Social Efficiency
By Andrei Hagiu
-
A Price Theory of Multi-Sided Platforms
By E. Glen Weyl
-
Empirics of Antitrust in Two-Sided Markets
By Marc Rysman
-
Platform Owner Entry and Innovation in Complementary Markets: Evidence from Intel
-
Indirect Network Effects and Adoption Externalities
By Jeffrey Church, Neil Gandal, ...
-
Indirect Network Effects and Adoption Externalities
By Jeffrey Church, Neil Gandal, ...
-
Merchant or Two-Sided Platform?
By Andrei Hagiu