ENGLISH

Innovation Patterns in Crisis and Prosperity: Schumpeter’s Long Cycle Reconsidered

By Alfred Kleinknecht (auth.)

Book information

Publisher
Palgrave Macmillan UK
Year
1987
ISBN
978-1-349-18561-0, 978-1-349-18559-7
DOI
10.1007/978-1-349-18559-7
Language
english
Format
PDF
Filesize
17 MB (17527993 bytes)
Edition
1
Pages
XVIII, 235\243
Time added
2016-03-14 21:35:01
Economic Theory/Quantitative Economics/Mathematica

Description

With the economic problems facing Western economics during the last decade, theories about an alleged forty-five to sixty years' pulsation in economic life (the Kondratieff-Schumpeter cycle) have experienced a remarkable renaissance. Based on a new econometric test method, the author argues that long waves can be identified not only in price series but also in the aggregate output of a number of key industrialized countries. The author's own research corroborates Schumpeter's hypothesis that, far from being caused by a flash of genius, radical innovations occur in clusters, interacting with economic fluctuations and social change.

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