Perez

Question 1

What is the root of economic growth concerning Schumpeter?

Answer 1

technical change and entrepreneurship

Question 2

What are Neo-Schumpeterians doing?

Answer 2

Analzing technical change and innovation as such and delve into the characteristics and dynamics of innovation

Question 3

Elaborate the difference between innovation and invention, give examples

Answer 3

Innovation: Commercial introduction of a new product (e.g. smartphone)
Invention: Belongs to the realm of science and technology (science behind smartphones)

Question 4

What are Technological Systems?

Answer 4

Interconnected technologies that emerge in the neighbourhood of other innovations and are dynamically interrelated. Each new technology system modifies the business space, institutional context and the culture
A new product appearing in the early phases of a new system has a more dynamic market life ahead than one at its maturity phase.

Question 5

What is a technological revolution? Give examples and elaborate on the current technological revolution

Answer 5

A set of interrelated radical breakthroughs, forming a major constellation of interdependent technologies → a cluster of clusters
E.g. industrial revolution; current TR started with microprocessors

Question 6

What distinguishes a technological revolution from a random collection of technology systems?

Answer 6

1. Strong interconnectedness and interdependence of the participating systems in their technologies and markets
2. The capacity to transform profoundly the rest of economy (and eventually society) –> techno-economic paradigm