IDEAS home Printed from https://ideas.repec.org/a/kap/revaec/v34y2021i1d10.1007_s11138-020-00506-9.html
   My bibliography  Save this article

Entrepreneurship, novel combinations, capital regrouping, and the structure-agency relationship: an introduction to the special issue on innovation and Austrian economics

Author

Listed:
  • Paul Lewis

    (King’s College London)

Abstract

This introduction outlines some key aspects of an Austrian perspective on innovation, which is viewed as an ongoing, dynamic process in which entrepreneurs combine heterogeneous capital resources in new ways order to develop and deploy new technologies, products, and methods of business organisation. It goes on to introduce the contributions to this special issue on Austrian economics and innovation.

Suggested Citation

  • Paul Lewis, 2021. "Entrepreneurship, novel combinations, capital regrouping, and the structure-agency relationship: an introduction to the special issue on innovation and Austrian economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(1), pages 1-12, March.
    • Handle: RePEc:kap:revaec:v:34:y:2021:i:1:d:10.1007_s11138-020-00506-9
    DOI: 10.1007/s11138-020-00506-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11138-020-00506-9
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11138-020-00506-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Glenn Furton & Adam Martin, 2019. "Beyond market failure and government failure," Public Choice, Springer, vol. 178(1), pages 197-216, January.
    2. Harper, David A., 2018. "Innovation and institutions from the bottom up: an introduction," Journal of Institutional Economics, Cambridge University Press, vol. 14(6), pages 975-1001, December.
    3. K. Matthias Weber & Bernhard Truffer, 2017. "Moving innovation systems research to the next level: towards an integrative agenda," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(1), pages 101-121.
    4. Anthony M Endres & David A Harper, 2020. "Economic development and complexity: the role of recombinant capital," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 44(1), pages 157-180.
    5. P A Lewis, 2017. "Ontology and the history of economic thought: the case of anti-reductionism in the work of Friedrich Hayek," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(5), pages 1343-1365.
    6. Jakob Edler & Jan Fagerberg, 2017. "Innovation policy: what, why, and how," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(1), pages 2-23.
    7. Hayek, F. A., 2014. "The Market and Other Orders," University of Chicago Press Economics Books, University of Chicago Press, number 9780226089553 edited by Caldwell, Bruce.
    8. Anthony M. Endres & David A. Harper, 2012. "The kinetics of capital formation and economic organisation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(4), pages 963-980.
    9. Runde, Jochen, 2001. "Bringing Social Structure Back into Economics: On Critical Realism and Hayek's Scientism Essay," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 14(1), pages 5-24, March.
    10. Patrick Llerena & Mireille Matt, 2005. "Innovation Policy in a Knowledge-Based Economy : Theory and Practice," Post-Print hal-00279610, HAL.
    11. Paul Lewis, 2005. "Structure, agency and causality in post-revival Austrian economics: tensions and resolutions," Review of Political Economy, Taylor & Francis Journals, vol. 17(2), pages 291-316.
    12. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626, National Bureau of Economic Research, Inc.
    13. Ostrom, Elinor, 2009. "An Agenda for the Study of Institutions," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 89-110, December.
    14. Paul Lewis, 2020. "Developing Technician Skills for Innovative Industries: Theory, Evidence from the UK Life Sciences Industry, and Policy Implications," British Journal of Industrial Relations, London School of Economics, vol. 58(3), pages 617-643, September.
    15. Koppl, Roger & Kauffman, Stuart & Felin, Teppo & Longo, Giuseppe, 2015. "Economics for a creative world," Journal of Institutional Economics, Cambridge University Press, vol. 11(1), pages 1-31, March.
    16. James Stanley Metcalfe, 2005. "Systems Failure and the Case for Innovation Policy," Springer Books, in: Patrick Llerena & Mireille Matt (ed.), Innovation Policy in a Knowledge-Based Economy, chapter 2, pages 47-74, Springer.
    17. Malerba,Franco & Brusoni,Stefano (ed.), 2007. "Perspectives on Innovation," Cambridge Books, Cambridge University Press, number 9780521685610, October.
    18. Emily Chamlee-Wright & Justus Myers, 2008. "Discovery and social learning in non-priced environments: An Austrian view of social network theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(2), pages 151-166, September.
    19. Harper, David A. & Endres, Anthony M., 2012. "The anatomy of emergence, with a focus upon capital formation," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 352-367.
    20. Virgil Henry Storr & Stefanie Haeffele-Balch & Laura E. Grube, 2015. "Community Revival in the Wake of Disaster," Perspectives from Social Economics, Palgrave Macmillan, number 978-1-137-31489-5.
    21. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67(3), pages 297-297.
    22. Dennis Patrick Leyden & Matthias Menter, 2018. "The legacy and promise of Vannevar Bush: rethinking the model of innovation and the role of public policy," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 27(3), pages 225-242, April.
    23. Roger Koppl & Stuart Kauffman & Giuseppe Longo & Teppo ­­­felin, 2015. "Economics for a creative world," Post-Print hal-01415131, HAL.
    24. Jan Fagerberg, 2017. "Innovation Policy: Rationales, Lessons And Challenges," Journal of Economic Surveys, Wiley Blackwell, vol. 31(2), pages 497-512, April.
    25. Baumol, William J., 1996. "Entrepreneurship: Productive, unproductive, and destructive," Journal of Business Venturing, Elsevier, vol. 11(1), pages 3-22, January.
    26. Koppl, Roger & Kauffman, Stuart & Felin, Teppo & Longo, Giuseppe, 2015. "Economics for a creative world: a response to comments," Journal of Institutional Economics, Cambridge University Press, vol. 11(1), pages 61-68, March.
    27. Malerba,Franco & Brusoni,Stefano (ed.), 2007. "Perspectives on Innovation," Cambridge Books, Cambridge University Press, number 9780521866644, October.
    28. David Harper, 2014. "Property rights as a complex adaptive system: how entrepreneurship transforms intellectual property structures," Journal of Evolutionary Economics, Springer, vol. 24(2), pages 335-355, April.
    29. Ruud E. Smits & Stefan Kuhlmann & Phillip Shapira (ed.), 2010. "The Theory and Practice of Innovation Policy," Books, Edward Elgar Publishing, number 4181.
    30. Endres, Anthony M. & Harper, David A., 2013. "‘Wresting meaning from the market’: a reassessment of Ludwig Lachmann's entrepreneur," Journal of Institutional Economics, Cambridge University Press, vol. 9(3), pages 303-328, September.
    31. Paul Lewis, 2017. "Shackle on choice, imagination and creativity: Hayekian foundations," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(1), pages 1-24.
    32. Paul Lewis, 2011. "Far from a nihilistic crowd: The theoretical contribution of radical subjectivist Austrian economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(2), pages 185-198, June.
    33. Ostrom, Elinor, 1996. "Crossing the great divide: Coproduction, synergy, and development," World Development, Elsevier, vol. 24(6), pages 1073-1087, June.
    34. -, 1986. "Agenda = Agenda," Series Históricas 8749, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    35. Lewis, Paul & Runde, Jochen, 2007. "Subjectivism, social structure and the possibility of socio-economic order: The case of Ludwig Lachmann," Journal of Economic Behavior & Organization, Elsevier, vol. 62(2), pages 167-186, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paul Lewis, 2021. "The innovation systems approach: an Austrian and Ostromian perspective," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(1), pages 97-114, March.
    2. Fagerberg, Jan, 2018. "Mobilizing innovation for sustainability transitions: A comment on transformative innovation policy," Research Policy, Elsevier, vol. 47(9), pages 1568-1576.
    3. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, September.
    4. Jakob Edler & Jan Fagerberg, 2017. "Innovation policy: what, why, and how," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(1), pages 2-23.
    5. Kärnä, Anders & Karlsson, Johan & Engberg, Erik & Svensson, Peter, 2020. "Political Failure: A Missing Piece in Innovation Policy Analysis," Working Paper Series 1334, Research Institute of Industrial Economics, revised 21 Apr 2022.
    6. Havas, Attila, 2014. "Mit mér(j)ünk?. Az innováció értelmezései - szakpolitikai következmények [The theory and measurement of innovation and its mutual effect on policy]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 1022-1059.
    7. Burmaoglu, Serhat & Sartenaer, Olivier & Porter, Alan, 2019. "Conceptual definition of technology emergence: A long journey from philosophy of science to science policy," Technology in Society, Elsevier, vol. 59(C).
    8. Khraisha, Tamer, 2020. "Complex economic problems and fitness landscapes: Assessment and methodological perspectives," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 390-407.
    9. Victor I. Espinosa & Miguel A. Alonso Neira & Jesús Huerta de Soto, 2021. "Principles of Sustainable Economic Growth and Development: A Call to Action in a Post-COVID-19 World," Sustainability, MDPI, vol. 13(23), pages 1-14, November.
    10. repec:spo:wpmain:info:hdl:2441/401t6job098n79ch91o9giov9d is not listed on IDEAS
    11. Aghion, Philippe & David, Paul A. & Foray, Dominique, 2009. "Science, technology and innovation for economic growth: Linking policy research and practice in 'STIG Systems'," Research Policy, Elsevier, vol. 38(4), pages 681-693, May.
    12. Dosi, Giovanni & Lamperti, Francesco & Mazzucato, Mariana & Napoletano, Mauro & Roventini, Andrea, 2023. "Mission-oriented policies and the “Entrepreneurial State” at work: An agent-based exploration," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    13. Dosi, Giovanni & Nelson, Richard R., 2010. "Technical Change and Industrial Dynamics as Evolutionary Processes," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 51-127, Elsevier.
    14. Solomon Stein & Virgil Henry Storr, 2023. "The market as foreground: The ontological status of the market in market process theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 36(1), pages 1-21, March.
    15. repec:hal:spmain:info:hdl:2441/401t6job098n79ch91o9giov9d is not listed on IDEAS
    16. Strong, Derek Ryan, 2017. "The Early Diffusion of Smart Meters in the US Electric Power Industry," Thesis Commons 7zprk, Center for Open Science.
    17. Daniel Gama e Colombo & Jorge Martinez-Vazquez, 2018. "Fiscal Decentralization and Public R&D Policy: A Country Panel Analysis," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1820, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    18. Laplane, Andrea & Mazzucato, Mariana, 2020. "Socializing the risks and rewards of public investments: Economic, policy, and legal issues," Research Policy, Elsevier, vol. 49(S).
    19. Bleda, Mercedes & del Río, Pablo, 2013. "The market failure and the systemic failure rationales in technological innovation systems," Research Policy, Elsevier, vol. 42(5), pages 1039-1052.
    20. Attila Havas, 2015. "The persistent high-tech myth in the EC policy circles - Implications for the EU10 countries," CERS-IE WORKING PAPERS 1517, Institute of Economics, Centre for Economic and Regional Studies.
    21. Michael P. Schlaile & Sophie Urmetzer & Vincent Blok & Allan Dahl Andersen & Job Timmermans & Matthias Mueller & Jan Fagerberg & Andreas Pyka, 2017. "Innovation Systems for Transformations towards Sustainability? Taking the Normative Dimension Seriously," Sustainability, MDPI, vol. 9(12), pages 1-20, December.
    22. Verónica Robert & Gabriel Yoguel, 2022. "Exploration of trending concepts in innovation policy," Review of Evolutionary Political Economy, Springer, vol. 3(2), pages 259-292, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:revaec:v:34:y:2021:i:1:d:10.1007_s11138-020-00506-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.