Towards a dynamic (Schumpeterian) welfare economics
نویسندگان
چکیده
منابع مشابه
Towards a dynamic (Schumpeterian) welfare economics
Knowledge plays an increasingly important role in shaping the dynamics of an economy. A static Paretian welfare economics is therefore inadequate, and needs to be supplemented by a dynamic (Schumpeterian) welfare theory. A dynamic welfare economics acknowledges the role of knowledge and communication. As knowledge develops cumulatively in a social environment, knowledge may not be readily diffu...
متن کاملPrinciples of Neo-Schumpeterian Economics
Within the last 25 years large 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 mos...
متن کاملGrowth, Cycles and Welfare: A Schumpeterian Perspective∗
We use a Schumpeterian model in which both the economys growth rate and its volatility are endogenously determined to assess some welfare and policy implications associated with business cycle ßuctuations. Because it features a higher average growth rate than its acyclical counterpart, steady state welfare is higher along the cyclical equilibrium growth path of the model. We assess the impact...
متن کاملManifesto for Comprehensive Neo-Schumpeterian Economics
Within the last 25 years large progress has been made in Neo-Schumpeterian Economics, this branch of economic science which deals with dynamic processes causing qualitative transformation of economies basically driven by the introduction of novelties. By its very nature, technological innovation is the most exponent and visible form of novelty. However, Neo-Schumpeterian Economics should be con...
متن کاملFrom preference to happiness: Towards a more complete welfare economics
Welfare economics is incomplete as it analyzes preference without going on to analyze welfare (or happiness) which is the ultimate objective. Preference and welfare may di¤er due to imperfect knowledge, imperfect rationality, and/or a concern for the welfare of others (non-a¤ective altruism). Imperfection in knowledge and rationality has a biological basis and the resulting accumulation instinc...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Research Policy
سال: 2005
ISSN: 0048-7333
DOI: 10.1016/j.respol.2004.11.002