The political economy of innovation development : breaking the vicious cycle of economic theory / Iurii Bazhal.

Format:

Book

Author/Creator:

Baz︠h︡al, I︠U︡. M. (I︠U︡riĭ Mykolaĭovych), author.

Series:

Palgrave pivot

Language:

English

Subjects (All):

Technological innovations--Economic aspects.

Technological innovations.

Technological innovations--Evaluation.

Physical Description:

ix, 135 pages : illustrations ; 22 cm.

Place of Publication:

Cham, Switzerland : Palgrave Macmillan, [2017]

Summary:

"This book finds that the R&D and technological innovation of a country is not a result, but a factor, of sustained economic growth. Bazhal develops Schumpeter's theory to argue that genuine economic growth - especially in transitioning and developing countries - is only possible with innovation. With a particular focus on the work of Ukrainian economists, Tugan-Batanobvsky and Vernadsky, the text seeks to move the discipline forward and explain why innovation has become a primary factor of economic development in recent decades and why its role will become even more dominant in the future. Chapters interrogate whether modern economic theory can explain how we ensure the effective functioning of the market economy. The book shows that explanations of economists and politicians regarding the nature of the current economic and financial crisis, and the causes of huge gaps in levels of wealth in market economies, demonstrates that there are not enough satisfactory answers to this question"-- Provided by publisher.

Contents:

Introduction

Innovations: a known unknown phenomenon of economy

Key features of Schumpeter's theory of economic development

"Vicious cycle" of political economy without "innovations"

Innovation development versus re-industrialization

Evaluating innovation impact on economy

Human capital and innovation development.

Notes:

Includes bibliographical references and index.

ISBN:

9783319548517

3319548514

OCLC:

971350757