Swarming mechanics

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

This paper sets out some microfoundations for Schumpeter’ s theory of innovation-driven business cycles. A model is developed to represent these cycles, which incorporates two of the three main elements of Schumpeter's analysis: innovation and profit-seeking. The third element emphasized by Schumpeter, the role of credit, is taken as an exogenous factor.

Original languageEnglish
Pages (from-to)235-244
Number of pages10
JournalEconomics of Innovation and New Technology
Volume4
Issue number3
DOIs
StatePublished - 1 Jan 1996

Keywords

  • Business cycles
  • Innovation
  • Profit-seeking

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (all)
  • Management of Technology and Innovation

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